Delhi HC condones assessee
company’s delay in filing application u/s. 119(2)(b) seeking refund of TDS
amount for AY 2013-14; Takes note of assessee’s submission that its Chartered
Accountant / auditor had inadvertently overlooked the TDS amount while filing
the return, holds assessee’s reasons as being ‘bonafide’; On Revenue’s
stand that the auditor’s omission was not substantiated, HC remarks that, “This
court has difficulty to understand what more plea or proof any assessee could
have brought on record, to substantiate the inadvertence of its advisor.”;
Noting that the assessee did not urge any other grounds such as illness of
someone etc., which could have reasonably been substantiated by independent
material, HC remarks that, “there cannot necessarily be independent proof or
material to establish that the auditor in fact acted without diligence.”;
Moreover, HC observes that the amount was reflected on the TDS portal of IT
Dept. at the relevant time, thus permits assessee to make refund claim and
directs AO to remit the amount due within three weeks time after due verification,
cites co-ordinate bench ruling in Indglonal Investment & Finance Ltd.:HC
Subscribe to:
Post Comments (Atom)
Navigating the Complexities of GST Pre-deposit Requirements Before GSTAT
The introduction of the Goods and Services Tax Appellate Tribunal (GSTAT) has brought significant changes to the pre-deposit framework for...
-
A new website launched for TDS related matters www.tdscpc.gov.in TRACES – T DS R econciliation A nalysis and C orrection E nabling S yste...
-
Issue before the Income-tax Appellate Tribunal (ITAT) Whether the phrase “paid up capital and general reserves” should be defined as “Ne...
-
Introduction Employee welfare is a cornerstone of corporate responsibility, and gratuity forms a critical part of the social security benefi...
-
Sr No Due Date Related to Compliance to be made 1. 11.06.2026 GST ...
-
In the complex landscape of India’s Goods and Services Tax (GST), the tax treatment of non-compete fees has emerged as a critical area f...
-
Selling a property can trigger a significant tax liability in the form of capital gains tax. However, the Income-tax Act, 1961, allows you...
-
Capital gains taxation on immovable property under the Income-tax Act, 1961 often turns on a deceptively simple question: when is a proper...
-
Tax Deducted at Source (TDS) is generally not applicable to interchange fees, payment gateway charges, or the Merchant Discount Rate (MDR)...
-
The newly enacted Income Tax Act, 2025, marks a significant step toward simplification by consolidating multiple presumptive taxation sche...
-
Introduction The law relating to companies is laid down in Companies Act, 2013 and the rules made thereunder and t...
No comments:
Post a Comment