Vishwas Builders v. The Commissioner of Income-tax, Mangaluru
|The Commissioner of Income-tax, Mangaluru
|HIGH COURT OF KARNATAKA
|Date of Order
|interest of justice and equity • professional charges • condition precedent • due date
|The learned advocates appearing for the parties in unison would fairly submit that issue involved in the present appeal is squarely covered by the judgment of the Apex Court rendered in 404 ITR page 654 and same has been followed by the Co-ordinate Bench in ITA No.422/2012 disposed of on 29.06.2020. This appeal came to be admitted to consider the following substantial question of law:- 1. Whether the Tribunal was justified in not canceling the order under Section 263 when condition precedent for invoking 263 was absent 3 2. Whether the Tribunal was justified in holding that the Section 40 as amended by Finance Act, 2010 w.e.f. 1st April 2010 do not have retrospective effect 3. Whether the Tribunal was justified in holding that the disallowance under Section 40(a)(ia) of the Act was possible when the appellant failed to deduct and remit tax on contract and professional charges payable within due date in the respective months even when the provision for deduction was made in the month of March and remitted to Government account before the due date for filing the return under Section 139(1) of the Act 4. In the light of the submissions made by the learned counsel for the parties, issue involved in this appeal being no more res integra in the light of law declared by the Apex Court referred to supra, this appeal stands disposed of accordingly by answering the substantial questions of law in favour of assessee and against the revenue.