M/S SATNAM TRANSPORT COMPANY,INDORE vs. THE CIT- II, INDORE

ITA 248/IND/2013Status: DisposedITAT Indore19 January 2018AY 2008-0912 pages
AI SummaryPartly Allowed

What did the Tribunal hold?

For AY 2008-09, the Tribunal upheld the CIT's revision under Section 263, finding the AO's order erroneous and prejudicial to revenue due to late TDS deposit. For AY 2009-10, the Tribunal set aside the rejection of books of accounts and restored the issues to the AO for fresh adjudication.

What were the facts?

The assessee claimed deduction for freight payments where TDS was deducted but deposited late. The CIT invoked Section 263 to revise the assessment order, holding that the AO erred in allowing the deduction. For another assessment year, the AO rejected the assessee's books of accounts due to discrepancies in receipts and unverified expenses.

What were the issues?

Whether the CIT was justified in revising the assessment order under Section 263 for late TDS deposit? Whether the AO was justified in rejecting the assessee's books of accounts due to discrepancies and unverified expenses?

Which sections of the Income-tax Act were involved?

Section 40(a)(ia),Section 263,Section 145(3),Section 44AB

AI-generated summary — verify with the full judgment below

Cases cited in this judgment(7)Show list

Detected automatically from the text. Citations are also linked where they appear in the judgment. The count shows how many other judgments on BharatTax rely on the same authority.

Income Tax Appellate Tribunal, INDORE BENCH, INDORE

Before: SHRI KUL BHARAT & SHRI MANISH BORAD

For Appellant: Shri Girish Agrawal & Subhash Jain CA
For Respondent: Shri Lal Chand, CIT-DR
Hearing: 02.01.2018Pronounced: 19.01.2018

PER KUL BHARAT, J.M: These three appeals by the assessee and Revenue pertaining to the A.Y. 2008-09 directed against two separate orders of Ld.

Commissioner of Income Tax-II, and Commissioner of Income Tax dated 25.03.2013 & 11.02.2013 respectively.

First, we take up the appeal pertaining to the A.Y. 2008-09, the assessee has raised following grounds of appeal: “1.On the facts and in

The order continues below.

Read the full judgment

A free account opens 10 full judgments a month. Re-reading one you have already opened does not count again.

Create a free accountSign in

See plans and prices

The summary, the parties, the sections and the citations above are open to everyone and always will be. Only the text of the order and the PDF are metered.

Similar judgments

Other orders that rely on the same authority or decide the same section.

More judgments on Section 40(a)(ia)

All 7,300 judgments and leading authorities on Section 40(a)(ia) →

Latest GST High Court judgments

Search GST case law →