No Escape from TDS on Identified Year-End Provisions; ITAT Grants Relief Where Tax Paid Before Return Due Date

ICICI Venture Funds Management Company Limited Vs DCIT (ITAT Bangalore) No Escape from TDS on Identified Year-End Provisions; ITAT Grants Relief Where Tax Paid Before Return Due Date The Bangalore ITAT held that where an assessee creates year-end provisions for identified professional fees payable to identified parties, the obligation to deduct tax at source arises at the time of making such provision itself. Merely because invoices are received in the subsequent year does not postpone the TDS liability. Accordingly, the Tribunal upheld the applicability of Section 194J and rejected the assess...