Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: empanelment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: cpt :: articles on VAT and GST in India :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARD :: VAT Audit :: due date for vat payment :: form 3cd :: ACCOUNTING STANDARDS :: TDS :: VAT RATES :: list of goods taxed at 4% :: TAX RATES - GOODS TAXABLE @ 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes
 
 
ITAT-Constitution of Benches »
 Income Tax Appellate Tribunal New Delhi Benches New Delhi Causelist for Bench 'B' 07/08/2017
 Income Tax Appellate Tribunal New Delhi Constitution of Benches from 21/08/2017 To 25/08/2017
 Income Tax Appellate Tribunal Banglore Causelist for The week from 14/08/2017 To 17/08/2017
 Income Tax Appellate Tribunal Mumbai Consolidated list of orders ready for Pronouncement on 16/08/2017
 Income Tax Appellate Tribunal, Ahmedabad Benches, Ahmedabad Constitution For The Period From 14-08-2017 To 17-08-2017 & 21-08-2017 To 24-08-2017
 Income Tax Appellate Tribunal : Bangalore Benches : Bangalore Constitution for the week from 21/08/2017 To 24/08/2017
 Income Tax Appellate Tribunal Mumbai Benches , Consolidated list orders read for Pronouncement 09-08-2017
 Income Tax Appellate Tribunal Kolkata Benches Kolkata Constitution of Kolkata Benches from 07/08/2017 To 10/08/2017 (11th August,2017- M.A.Day)
 Income Tax Appellate Tribunal Chennai Benches Chennai Constitution for the Week from 07/08/2017 To 10/08/2017
  New Opening Assistant General Manager|| Finance & Accounts
  New Opening Assistant General Manager|| Finance & Accounts

Dynatron Private Limited vs. DCIT (ITAT Mumbai)
June, 04th 2013

No S. 271(1)(c) penalty for s. 40(a)(i) disallowance if TDS deducted next year

The assessee incurred expenditure towards “fees for technical services” on which TDS was not deducted by the end of the year. Though the auditor stated in the tax audit report that the amount had to be disallowed u/s 40(a)(i), the assessee still claimed a deduction. The TDS was paid in the subsequent financial year. The AO disallowed the deduction and imposed penalty u/s 271(1)(c) which was affirmed by the CIT(A). On appeal by the assessee to the Tribunal, HELD allowing the appeal:
(ad)
S. 40(a)(i) does not impose an absolute disallowance for failure to deduct TDS. It provides that the deduction shall be allowed in the year of deduction of the TDS. As the assessee had in fact deducted TDS in the immediately succeeding year, it had substantially complied with the provision. Also, as the fact that TDS was not deducted was stated in the tax audit report which was filed with the return, it could not be said that the assessee has not disclosed the correct particulars of income.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Achievements

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions