ITO, NEW DELHI vs SH. VIKAS VASUDEVA, NEW DELHI

Income Tax Appellate Tribunal, DELHI BENCH ‘SMC-3’, NEW DELHI

Before: SHRI H.S. SIDHU

For Appellant: Shri Vinod Kumar Goyal, Adv

For Respondent: DR Assessee by : Shri Vinod Kumar Goyal, Adv

per sub-section III of section 3 of 194A of I.T. Act. Therefore, the

assessee is not liable to treat as defaulter as per proviso 40(a) of

I.T. Act and A.O. was not justified in disallowing the interest

payment to the bank without deduction tax. Accordingly, the

addition made on account of non deduction of TDS on account of

ITA NO.6525/Del/2015 7

interest paid on loan from banking concern of Rs. 35,06,062/- was

rightly deleted by the Ld. CIT(A), which does not need any

interference on my part, hence, I uphold the same and accordingly,

the ground raised by the Revenue stands dismissed.

In the result, the appeal of the Revenue is dismissed.

Order pronounced in the Open Court on 30/08/2016. Sd/-

(H.S. SIDHU) JUDICIAL MEMBER Dated: 30/8/2016 *SR BHATNAGAR* Copy forwarded to: - 1. Appellant 2. Respondent 3. CIT 4. CIT(A) 5. DR, ITAT TRUE COPY By Order,

ASSISTANT REGISTRAR

ITO, NEW DELHI vs. SH. VIKAS VASUDEVA, NEW DELHI