Section 154 action Based on TDS Shortfall reported in Form 3CD is valid

JCIT(OSD) Vs Sistema Shyam Teleservices Ltd (ITAT Delhi) ITAT Delhi held that initiation of action u/s. 154 of the Income Tax Act on the basis of shortfall in TDS on year end provisions reported in Form 3CD of the assessee cannot be faulted. Accordingly, matter remanded to AO. Facts- The Assessing Officer (AO) found that for F.Y. 2012-13 the assessee deductor was required to deduct TDS aggregating to Rs. 15,59,44,667/- (including interest) on gross amount of Rs. 2,87,53,24,755/- under various TDS provision of the Income Tax Act, 1961 which the assessee had failed to do. AO, therefore, issued n...