MUNIVENKATAPPA SHIVANNA,BANGALORE vs. ACIT CIRCLE-7(2)(1), BANGALORE
In the result, appeal of the assessee is treated as allowed for statistical purposes
ITA 358/BANG/2021[2014-15]Status: DisposedITAT Bangalore24 Aug 2021AY 2014-15
Bench: Shri N.V. Vasudevanassessment Year : 2014-15 Shri. Munivenkatappa Shivanna, Vs. Acit, Prop: Maruthi Manunath Travels, Circle – 7(2)(1), No.208/1, Idasarahalli Kempegowda Bengaluru. Main Road, Dasarahalli Near Aswath Katte, Bengaluru City – 560 027. Pan : Bixps 0619 B Appellant Respondent Appellant By : Shri. Adam Kajabee, Ca Respondent By : Shri. Ganesh R. Ghale, Standing Counsel Date Of Hearing : 23.08.2021 Date Of Pronouncement : 24.08.2021 O R D E R Per N.V. Vasudevanthis Is An Appeal By The Assessee Against The Order Dated 14.09.2017 Of Cit(A)-7, Bengaluru, In Relation To Ay 2014-15. 2. The Assessee Is An Individual Engaged In The Business Of Running Vehicles On Hire. The Assessee Paid A Sum Of Rs.5,75,710 As Interest On Loans Borrowed From A Non-Banking Finance Company M/S.Cholmandalam Investments & Finance Co.Ltd. The Assessee Did Not Deduct Tax At Source As Was Required By The Provisions Of Sec.194A Of The Income Tax Act, 1961 ["The Act"] The Ao Therefore Added A Sum Of Rs.5,75,710 To The Total Income Of The Assessee For Non-Deduction Of Tax At Source By Invoking The Page 2 Of 7 Provisions Of Section 40(A)(Ia) Of The Act, Which Lays Down That Where Tax Is Deductible On A Payment & Tax Is Not So Deducted, Then The Sum In Respect Of Which Tax Is Not Deducted At Source, If It Is Claimed As Expenditure In Computing Income From Business, The Same Will Not Be Allowed As A Deduction, While Computing The Income From Business. The Ao Accordingly Made The Impugned Disallowance & Addition To The Total Income U/S. 40(A)(Ia) Of The Act.
For Appellant: Shri. Adam Kajabee, CAFor Respondent: Shri. Ganesh R. Ghale, Standing Counsel
Section 139Section 194ASection 201Section 201(1)Section 40
26A and certificate of accountant under first proviso to sub section (1) of section 201 of the I.T. Act, 1961, which is an exception to the deduction of taxes at source. The said certificate was received after 31g December 2016. This contention of the appellant has been considered. It could be a reasonable proposition and also according to judicial decisions