Case Law Details
Mr. Shekhar Dadarkar Vs DCIT (ITAT Mumbai)
TDS provisions were applicable to interest payments made to NBFCs, however, if payees had shown interest income in their respective returns and paid income tax thereon, no disallowance could be made in view of second proviso to section 40(a)(ia).
FULL TEXT OF THE ITAT JUDGMENT
The above titled five appeals by the assessee and one by the Revenue have been preferred against the different orders of the Commissioner of Income Tax (Appeals) [hereinafter referred to as the CIT(A)] for the respective assessment years.
2. At the outset, we would like to mention that at the time of hearing neither assessee nor his authorized representative was present to represent the cases. However, the application seeking adjournment was filed which was rejected for the reasons that the case of the assessee has been adjourned at as many as 10 times from 10.03.14 till today i.e. 04.04.18. In view of the said facts we observe that the assessee is non cooperative in prosecution of his appeals. We are of the view that these appeals should be disposed of on merits after hearing the Ld. D.R. Accordingly, these appeals are being disposed of in the ensuing paras after hearing the Ld. D.R. and considering the merits of the respective cases.
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