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2014 (4) TMI 1058 - AT - Income TaxDisallowance made under section 40(a)(ia) - short deduction of tax - TDS at 10 per cent. under section 194-I OR at the rate of 2.06 per cent. under section 194C - Held that:- As relying on Apollo Tyres Ltd. v. Deputy CIT [2013 (11) TMI 209 - ITAT COCHIN ] this Tribunal is of the considered opinion that short deduction of tax cannot be a reason/basis for disallowance under section 40(a)(ia) of the Act. Accordingly, the orders of the lower authorities are set aside and the disallowance made under section 40(a)(ia) is deleted. - Decided in favour of assessee.
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