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2015 (9) TMI 323 - AT - Income TaxDisallowance of payment of interest u/s 40(a)(ia) for non deduction of tax - Held that:- Section 40(a)(ia) would cover not only to the amounts which are payable as on 31st March of a particular year but also which are payable at any time during the year. Of course, as long as the other requirement of the said provision exist. By following the judgments of the Calcutta High Court in Crescent Export Syndicate (2013 (5) TMI 510 - CALCUTTA HIGH COURT) and the Gujarat High Court in Sikandarkhan N Tunvar (2013 (5) TMI 457 - GUJARAT HIGH COURT), this Tribunal is of the considered opinion that the decision of the Special Bench of this Tribunal in the case of M/s Merilyn Shipping & Transports [2012 (4) TMI 290 - ITAT VISAKHAPATNAM] and the judgment of the Allahabad High Court in Vector Shipping Services (P) Ltd (2013 (7) TMI 622 - ALLAHABAD HIGH COURT ) are not applicable to the facts of the case under consideration whereas the judgments of the Calcutta High Court in Crescent Export Syndicate (supra) and the Gujarat High Court in Sikandarkhan N Tunvar (supra) are squarely applicable to the facts of the case. We do not see any infirmity in the orders of the lower authorities. Accordingly, the orders of the lower authorities are confirmed. - Decided against assessee.
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