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2010 (11) TMI 555 - AT - Income TaxDisallowance - employees contribution to provident fund after due date - Held that the assessee is not entitled to deduction u/s 36(1)(va) of the employees' contribution to provident fund which was paid after the due date as specified in Explanation to Section 36(1)(va) of the Act as section 43B cannot be pressed into service because section 43B comes into play only when a deduction is otherwise allowable under the Income Tax Act - Decided in favour of Revenue. rebate u/s 88E - Held that section 88E of the Act provides rebate of STT paid by an assessee; once total income includes any income chargeable under the head "profits and gains" of the business or profession - There is no other condition is laid down u/s 88E and once there is profit in STT related business the assessee qualifies for rebate u/s 88E of the Act on STT paid - Hence, the learned C.I.T(A) directed the AO to allow credit of entire amount of STT paid, i.e. of Rs.8,09,174 - Decided in favour of assessee. Disallowed u/s 40(a)(ia) - Non deduction of TDS - held that:- even if the sum payable or paid to the contractors or subcontractors on which tax is deductible at source as per the provisions of the Act, section 40(a)(ia) be attracted. Since assessee has not deducted TDS as per provisions of section 194C of the Act, held that the C.I.T.(A) has rightly confirmed the action of the AO in disallowing the said sum of Rs.1,15,983.
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