M/S DHAULADHAR EDUCATION SOCIETY,KANGRA vs. ITO (TDS), PALAMPUR

ITA Nos. 201 to 204/Chd/2018- Dhauladhar Educational Society, Distt.Kangra 2

representative filed any submissions and the Assessing officer passed

an ex-parte order declaring the assessee as ‘assessee in default’.

However, in appeal before the CIT(A), the assessee submitted that so

far as the interest payments made to M/s Kotak Mahindra Bank was

concerned, the same were exempt from the purview of section 194A

of the Act being falling under the exemption clause of section 194A(3)(i)(a) of the Act as the Kotak Mahindra Bank was a banking

company to which the Banking Regulation Act, 1949 applies. The

second submission of the assessee has been that so far as the interest

payment made to Mahindra and Mahindra Financial Services Ltd was

concerned, that the said company in its return of income had taken

into account the interest received from the assessee. The Ld. CIT(A),

however, dismissed the appeals of the assessee on merits vide order

dated 26.7.2017 on the ground that the assessee had not furnished the

return of income of the payee u/s 139 of the Act.

and sought to furnish the PAN Number and status of one of the

payee Kotak Mahindra Bank being a banking Financial Company.

The Ld. CIT(A), however, dismissed the application filed u/s 154 of

the Act holding that the assessee had not furnished the above details

during the appellate proceedings.

the view, that the Ld. CIT(A) should not have dismissed the appeals

of the assessee. That the assessee had already pleaded that the