Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2016 (4) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2016 (4) TMI 1132 - HC - Income TaxTDS u/s 194A - Non deduction of tds - factoring/discounting charges - disallowance under Section 40(a) (ia) - Held that:- No factual basis for the AO to have disbelieved the Assessee's explanation and simply treat the entire amount as interest. The question of disallowing the entire amount under Section 40(a) (ia) on the ground that the TDS was not deducted in terms of Section 194A of the Act did not arise. The Court is unable to find any legal infirmity in the view expressed by the ITAT that the factoring/discounting charges in the present case cannot be treated as interest for the purpose of 194A. - Decided in favour of assessee
|