No disallowance U/s. 40(a)(ia) for shortfall in TDS Payment due to difference of opinion

M/s. Power Max (India) Pvt. Ltd. Vs DCIT (ITAT Kolkatta) It is observed that the disallowance under section 40(a)(ia) to the extent of Rs. 22,46,041/- and Rs. 56,81,220/- was made by the AO on account of short deduction of tax at source by the assessee from the relevant payments. In the case of DCIT vs S.K. Tekriwal 260 CTR 76 cited by the learned counsel for the assessee, Hon’ble Kolkata High Court has held that section 40(a)(ia) of the Act refers only to the duty to deduct tax and pay to government account. Explaining further, it was observed by the Hon’ble Kolkata High Court that if the...