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2023 (6) TMI 482 - AT - Income TaxTDS u/s 194A - Disallowance of interest expenses u/s 40(a)(ia) - effect of 2nd Proviso to Section 40(a)(ia) - assessee has debited interest which included interest paid to Non-Banking Finance Company without deducting TDS - as per case of the assessee if the amount paid by payer have been included by the payee in its return of income filed u/s 139 and has paid the tax due on the income declared in such return, to the extent recipient from such assessee is included the sum in his return of income and filed the same, no disallowance under Section 40(a)(ia) can be made in view of the 2nd Proviso to Section 40(a)(ia) r.w.s. First Proviso to Section 201(1) - HELD THAT:- Whether the 2nd Proviso to Section 40(a)(ia) of the Act is having retrospective effect from 01.04.2005 has also already dealt with by the Ld. CIT(A) with an affirmative view supported by the judgment passed by the Hon’ble Delhi High Court in case of Dr. Jaydeep Sharma [2014 (11) TMI 720 - ITAT DELHI] - Thus, the order passed by the Ld. CIT(A) is found to be just and proper without any ambiguity so as to warrant interference. The same is, therefore, upheld. Decided against revenue.
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