ITAT Delhi Orders Re-adjudication for Non-deposition of TDS

KMP Expressways Ltd Vs ACIT (ITAT Delhi) Introduction: In a recent judgement by the Income Tax Appellate Tribunal (ITAT) Delhi, the case of KMP Expressways Ltd vs ACIT was ordered to be re-adjudicated. The case was centred around KMP Expressways Ltd, the assessee, being treated as an ‘Assessee in default’ under section 201(1) of the Income Tax Act due to non-deposition of Tax Deducted at Source (TDS) in the company’s books of account. Analysis: The ITAT ruled that the case warranted re-adjudication as there was a discrepancy between the TDS accounted for in the company’...