M/S. ALTRADE MINERALS PVT. LIMITED,ROURKELA vs. ACIT,CENTRAL CIRCLE, SAMBALPUR, SAMBALPUR
In the result, appeal of the assessee is partly allowed
ITA 65/CTK/2023[2011-12]Status: DisposedITAT Cuttack16 Dec 2024AY 2011-12
Bench: Before Shri George Mathanmember & Manish Agarwal Manish Agarwalassessment Year : 2011-12 M/S. Altrade Minerals Pvt /S. Altrade Minerals Pvt Vs. Asst. Asst. Commissioner Commissioner Of Of Ltd., C/O. Kadmawala & Co., C/O. Kadmawala & Co., Income Tax, Central Circle, Income Tax, Central Circle, C.A., C.A., Budhram Budhram Oram Oram Sambalpur Market, Market, Kachery Kachery Road, Road, Rourkela. Pan/Gir No. No.Aafca 7136 F (Appellant (Appellant) .. ( Respondent Respondent) Assessee By : Shri M.R.Sahu, Ca Revenue By : Shri S.C.Mohanty, Sr Dr : Shri S.C.Mohanty, Sr Dr Date Of Hearing : 16/12/20 2024 Date Of Pronouncement : 16/12/20 024
For Appellant: Shri M.R.Sahu, CAFor Respondent: Shri S.C.Mohanty, Sr DR
Section 120(4)(b)Section 127Section 143(2)Section 143(3)Section 14A
227/.
(2.7). That based on facts of the case and provisions of law, AO erred in making disallowance of Rs.3,45,262/ u/s. 40(a)(ia) due to non deduction of tds on interest without appreciating the fact that amendment made by the Finance (No.2)
Act,2014
towards
30%
disallowance of the expenditure is applicable retrospectively, thus it is prayed
