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2023 (4) TMI 233 - AT - Income TaxDisallowance of deduction of interest paid to Canara bank in the computation of total taxable income - HELD THAT:- As following the decision of the Tribunal in the case of assessee’s sister concern in identical facts and circumstances [2021 (12) TMI 140 - ITAT CHENNAI] the deduction claimed regarding interest expenditure need to be allowed. Disallowance made since no TDS was deducted while making payment to M/s.Edelweiss under Section 40(a)(ia) of the Act - In light of this particular reason emanating from this appeal, we set aside the impugned order of the Ld.CIT(A) and restore the matter back to the file of the AO with a direction that if M/s.Edelweiss has shown the amount in question in the return of income for AY 2015-16 and offered for tax the same, then there is no need of ANY disallowance u/s.40(a)(ia) of the Act. Therefore, only for limited purpose, we remit this issue back to the file of the AO - Appeal of the assessee is allowed for statistical purposes.
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