- (1.) This appeal as per Section 260-A of Income Tax Act, 1961 (hereinafter referred to as the 'Act of 1961') is preferred to question correctness of the judgment dated 27.6.2013 passed by learned Income Tax Appellate Tribunal, Jodhpur Bench, Jodhpur affirming the order passed by the Commissioner of Income Tax (Appeals), Udaipur dated 31.3.2011.
(2.) The factual matrix necessary to the noticed for adjudication of this appeal is that the assessee Shri Harish Chandra Ahuja, proprietor of firms M/s. Ashirwad Crusher & Industries, Nimbahera and M/s. Ankita Construction Company, Nimbahera, filed return of income for an amount of Rs.64,25,434/- on 31.10.2007 and assessment of that was completed on 30.12.2009. The Assessing Authority assessed income of the assessee in a tune of Rs.4,94,14,649/- with disallowance of TDS deducted for a sum of Rs.4,26,65,256/- being not deposited to government account within the time limit prescribed. To assail the assessment made by the Assessing Officer under the order dated 30.12.2009 the assessee preferred an appeal, that came to be allowed vide order dated 31.3.2011.
(3.) The learned Commissioner Income Tax while setting aside the assessment order dated 31.12.2009 held that the provisions of Section 40[a](ia) as amended by the Finance Act, 2010 are remedial/curative in nature, thus, the same would apply retrospectively. On such application of the provision aforesaid, the addition of the TDS was ordered to be excluded from income of the assessee.;