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2016 (1) TMI 929 - AT - Income TaxDisallowance invoking provisions of sec. 40(a)(ia) - Held that:- Hon'ble Kerala High Court in the case of Thomas George Muthoot (2015 (7) TMI 810 - KERALA HIGH COURT ) had categorically held that Section 40(a)(ia) disallowance is also applicable to the expenditure which are paid during financial year also. - The language of the Section does not warrant an interpretation that it is attracted only if the interest remains payable on the last day of the financial year. If this contention is to be accepted, this Court will have to alter the language of Section 40(a) (ia) and such an interpretation is not permissible. - Decided against assessee
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