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2016 (3) TMI 1311 - AT - Income TaxAdditions u/s 40a(ia) - TDS liability on finance charges and interest in the form of equated monthly instalments to the finance companies from whom the loans were obtained - it was submitted that the finance companies have taken post dated cheques by way of monthly instalments of the entire loan amount and hence it is not possible for the assessee to separately deduct tax. - Held that:- the provisions of section 40(a)(ia) of the Act cannot be applicable in respect of amounts already paid before 31st March and allowed the appeal filed by the assessee. - Decided in favor of assessee.
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