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2017 (4) TMI 404 - AT - Income TaxTDS u/s 194A - Disallowance of interest expenditure under section 40(a)(ia) - payments to Adlabs Films Ltd. for non-deduction at source - Held that:- The disallowance under section 40(a)(ia) of the Act will not be attracted in the case on hand if the payee M/s. Adlabs Films Ltd. has offered for tax the interest payments received by it from the assessee in its return of income for A.Y. 2007-08 as claimed, subject to restoration of this issue to the file of the AO for verification of the actual position, i.e. as to whether the payee/recipient M/s. Adlabs Films Ltd. has offered the said interest receipts for taxation in its return of income for A.Y. 2007-08. We hold and direct accordingly.
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