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2015 (9) TMI 270 - AT - Income TaxDisallowance of interest expense u/s 40(a)(ia) - failure to deduct income tax at source and non procurement of Form 15G from the parties within the stipulated time - Held that:- Assessee has submitted Form 15G well in the stipulated time-limit along with all the relevant details and disallowance u/s 40(a)(ia) of the Act cannot be made only for topographical error in filling the verification date in duplicate Form 15G filled up by payees. All the original Form 15G were received by the assessee before the end of FY 2007-08 and those have been submitted to the Department before 07-04-2008 and assessee was correct in not making deduction of TDS as per the provision of Sec. 197A (1A) of the Act and as such, reverse the orders of authorities below and delete the disallowance of interest claimed by the assessee. - Decided in favour of assessee.
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