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2013 (11) TMI 142 - ITAT MUMBAIAddition u/s 40(a)(ia) – Held that:- Following Merilyn Shipping and Transports [2012 (4) TMI 290 - ITAT VISAKHAPATNAM] - The word "payable" used in section 40(a)(ia) is to be given its natural meaning and, going by the strict interpretation section 40(a)(ia) is applicable only to expenditure which is payable as on the date of balance sheet and cannot be invoked to disallow the amounts which have already been paid during the previous year, without deducting tax at source – The intention behind this provision is to curb bogus payments by creating bogus liabilities – The transportation charges claimed by the assessee had been paid before the end of the financial year – Decided against Revenue.
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