Case Law Details
Case Name : Hi-Lite Builders Pvt Ltd Vs DCIT (ITAT Cochin)
Related Assessment Year : 2009-10
Courts :
All ITAT ITAT Cochin
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Hi-Lite Builders Pvt Ltd Vs DCIT (ITAT Cochin)
ITAT Cochin held that amendment to section 40(a)(ia) of the Income Tax Act made by the Finance Act 2020 is retrospective in nature. Accordingly, TDS deposited on or before the due date of filing return u/s 139(1) is allowable.
Facts- The case of the assessee was selected for scrutiny and assessment was completed u/s. 143(3) assessing an income of Rs.1,03,48,780. Subsequently, the CIT, Kozhikode, set aside the order of assessment u/s. 263 with a direction to make fresh assessment on the ground that the tax deducted at source by the assessee during ...
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Author Bio
We are having GSTIN. We are doing business and our bankers transfer the excess amount in our current account to fixed deposit. We earn interest on this fixed deposit. TDS is also deducted. My query is whether Rule 42 of CGST is applicable. An early reply in this regard is highly solicited.
Thanks in advance.
TKW