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2015 (12) TMI 1520 - AT - Income TaxDisallowance vls 40(a)(ia) - amount payable or paid by the end of the year - Held that:- Supreme Court in Vector Shipping Services (P) Ltd. [2015 (12) TMI 1131 - SUPREME COURT OF INDIA ] has approved the special bench judgment in the case of Merilyn Shipping and Transport Ltd.[2012 (4) TMI 290 - ITAT VISAKHAPATNAM ] in which it was held that disallowance u/s. 40(a)(ia) applies only to amounts 'payable' as of 31st March and not to amounts already 'paid' during the year. Since the said matter has now reached finality, it is held that the disallowance made by the AO u/s 40(a)(ia) would apply only to amounts which are "payable" as on 31st of March 2006.
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