GAONKAR MINES Vs. ADDL COMMISSIONER OF INCOME-TAX

JUDGEMENT

(1.) The petitioner, M/s. Gaonkar Mines has challenged the impugned order passed by the respondent - Chief Commissioner of Income-tax (CCIT), Panjim, Goa, refusing to waive interest under Sections 234A, 234B and 234C of the Income-tax Act, 1961 (hereinafter referred to as the 'IT Act' for brevity).

(2.) Following reasons have been recorded by the said respondent in the impugned order of CCIT for the Assessment Year 2005-06 passed on 13.3.2014:

(3.) The learned Counsel for the petitioner, Mr. Mallaharao has urged before this Court that since the petitioner-Company was making payments to the contractors of the labour, who were poor persons and were not taxable under the provisions of the IT Act and therefore, the petitioner-Company did not have any liability to make deduction of tax at source and as far as disallowance in the hands of the petitioner-assessee under Section 40(a)(ia) of the IT Act is concerned, the matter has been remanded back by the learned Income-tax Tribunal to the Assessing Authority and therefore on merits of such disallowance made under the said Section 40(a)(ia) of the IT Act, it is still pending adjudication and therefore the petitioner should be deemed to have satisfied the conditions of Clause 2(b) of the Central Board of Direct Taxes (CBDT) Circular dated 26.6.2006, quoted above.