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2018 (4) TMI 631 - AT - Income TaxAccrual of income - overdue interest relating to the NPA - Held that:- Addition cannot be made on overdue interest relating to the NPA. See District Co-operative Central Bank, Eluru Vs. ITO Ward-2, Eluru [2018 (4) TMI 553 - ITAT VISAKHAPATNAM] addition u/s 40(a)(ia) - assessee required to deduct the TDS u/s 194C of the Act but failed to deduct the tax at source - omount is yet to be paid OR actually paid - Held that:- Assessee has made the payments for computerization to the extent of ₹ 21,46,000/- to M/s. D.Y. Systems, Hyderabad and ₹ 3,79,688/- to M/s. Techno Demo Office Automation Systems, Guntur. Now the issue is settled by by the Hon’ble Supreme Court in the case of Palam Gas Service v.Commissioner of Income-tax, [2017 (5) TMI 242 - SUPREME COURT] and held that the Word 'payable' occurring in section 40(a)(ia) not only covers cases where amount is yet to be paid but also those cases where amount has actually been paid. Therefore, we set aside the order of the CIT(A) and allow the appeal of the revenue.
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