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2nd proviso to sec 40(a)(ia) inserted in FA ,2012 have retrospective effect from 01-04-2005
Case Law Details
- Case Name
- CIT Vs Ansal Landmark Township P Ltd (Delhi High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Delhi High Court
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Brief of the case:
The High Court of New Delhi has held in case of CIT-1 Vs Ansal Landmark Township P Ltd that second proviso to sec 40(a)(ia) will have retrospective effect from 01-04-2005 which means that if the assessee had forgot to deduct the TDS on payment made to the resident and that payee had filed its return of income u/s 139 and also paid the tax on that income on which payer failed to deduct TDS then the payer would not be treated as an assessee in default as per first proviso to sec 201(1) and this second proviso to sec 40(a)(ia) would be applicable from 01-04-200...
Will the same can be invoked in a case in which the assessee company failed to remit the tax deducted into the CG A/c due to funds crunch, but, the payee has taken into a/c the income in its calculation and paid the tax on that at the time of filing their ITR for the relevant Asst Year?