ITO(TDS), SAMBALPUR vs. STATE BANK OF INDIA, BOLANGIR

ITA 237/CTK/2015Status: DisposedITAT Cuttack31 August 2017AY 2012-134 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal found that the AO was deprived of the opportunity to verify the forms. Therefore, the matter was restored to the AO for verification of the submitted forms and to pass an order on merits.

What were the facts?

The assessee bank deducted TDS of Rs. 70,51,462/- but only deposited Rs. 4,79,342/-. The bank claimed the remaining amount was reversed to deductees upon submission of Form 15G/15H, which were not produced before the AO. The CIT(A) accepted some forms and directed the AO to treat Rs. 2,55,457/- as short deduction.

What were the issues?

Whether the CIT(A) was justified in accepting fresh evidence (Form 15G/15H) not produced before the AO, and whether the AO was deprived of the opportunity to verify the claim.

Which sections of the Income-tax Act were involved?

Section 201(1),Section 201(1A)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, CUTTACK BENCH CUTTACK

Before: SHRI N.S.SAINI, AM & SHRI PAVAN KUMAR GADALE, JM

Hearing: 28/08/2017Pronounced: 31/08/2017

Per Shri Pavan Kumar Gadale, JM: The revenue has filed an appeal against the order of CIT(A), Cuttack, dated 27.02.2015, passed in I.T.Appeal No.135/2013-14, u/s.201(1)/201(1A) of the Income Tax Act, 1961 for the assessment year 2012-2013, wherein the revenue has raised the following grounds :-

1.

Whether the Ld. Appellate Authority was justified to accept the fresh TDS Parked Account statement of Rs.37,60,404/- by ignoring the TDS Parked Account statement of Rs.70,51,462/- which was detected during the time of TDS verification conducted b

The order continues below.

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