Assessee can not be deemed ‘Assessee in Default’ for year-end Provisions reversed in next year

Artemis Medicare Services Limited Vs ACIT (ITAT Delhi)

Assessee can not be Deemed ‘Assessee in Default’ for year-end Provisions reversed in next year

The  ITAT, in this case  held that the assessee cannot be treated as an ‘assessee in default’ u/s 201(1) merely for making year-end provisions where the payees were unidentifiable, and the provisions were reversed in the subsequent year.

Background:

• The case arose from alleged defaults identified during TDS

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