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M/s Malhotra Cables Pvt. Ltd. C/o Nagesh Behl & Co. Versus Income Tax Officer, Ward-6 (3) , New Delhi

Disallowance of expenditure u/s 40(a)(ia) - expenditure already “Paid” during the year - whether as Section 40(a)(ia) disallowance applies only to amounts “payable” as of 31st March and not to amounts already “paid” during the year.”? - Held that:- We find that the issue is now settled that the provision of Section 40(a)(ia) of the Act shall apply only to the amount “payable” as on the last day of the relevant accounting year. Accordingly, the Assessing Officer is directed to verify the amount i .....

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decide the issue de novo after verification that whether the TDS provisions were applicable on the expenditure after allowing reasonable opportunity of hearing to the assessee - Decided in favour of assessee for statistical purposes.

Disallowance of expenditure u/s 40(a)(ia) - expenditure on which TDS was already deducted at source - Held that:- In view of the evidence filed by the assessee in the compilation before us to prove that the assessee has made the TDS on the expenditure we .....

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as “payable” as on the last day of the accounting year, the disallowance was rightly made by the Assessing Officer and confirmed by the CIT(A) under Section 40(a)(ia) of the Act. - Decided against assessee. - ITA No.4712/Del/2013 - Dated:- 1-4-2015 - SHRI G.C. GUPTA, VICE PRESIDENT AND SHRI N.K. SAINI, ACCOUNTANT MEMBER For the Appellant : Shri Nagesh Kumar Behl and Shri Amit Khurana, CAs. For the Respondent : Shri P. Dam Kanunjha, Sr.DR.. ORDER PER G.C. GUPTA, VP : This appeal by the assessee f .....

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hich are as under:- 1. That learned AO erred in disallowing expenditure u/s 40(a)(ia) of the Act in respect of expenditure of ₹ 5,61,264 already Paid during the year as Section 40(a)(ia) disallowance applies only to amounts payable as of 31st March and not to amounts already paid during the year. 2. That learned CIT(A) erred in disallowing expenditure u/s 40(a)(ia) of the Act in respect of expenditure of ₹ 4,06,950 incurred on which no TDS was required to be deducted at source. 3. Th .....

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ned counsel for the assessee submitted that the issue in the ground of appeal of the assessee would be covered with the revised additional grounds raised by the assessee. 5. The revised additional ground of appeal No.1 is as under:- That learned AO erred in disallowing expenditure u/s 40(a)(ia) of the Act in respect of expenditure of ₹ 5,61,264 already Paid during the year as Section 40(a)(ia) disallowance applies only to amounts payable as of 31st March and not to amounts already paid dur .....

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the case of the Revenue. 8. We have considered the rival submissions and have perused the order of the Assessing Officer and the learned CIT(A). We find that the issue is now settled that the provision of Section 40(a)(ia) of the Act shall apply only to the amount payable as on the last day of the relevant accounting year. Accordingly, the Assessing Officer is directed to verify the amount in question and, if the amount was already paid during the year and no expenditure remained payable as on t .....

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t attract the TDS provisions and, therefore, there could not be any disallowance on this amount. Learned DR has opposed the submissions of the learned counsel for the assessee. 11. We have considered the rival submissions and have perused the order of the Assessing Officer and the learned CIT(A). In the facts of the case, we restore this issue to the file of the Assessing Officer with the direction to decide the issue de novo after verification that whether the TDS provisions were applicable on .....

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e, there was no question of applicability of provisions of Section 40(a)(ia) of the Act. He submitted that the evidence of TDS having been made on this amount of ₹ 59,438/- is filed in the form of Form No.16A, copy filed at page 42 of the compilation filed before the Tribunal. Learned DR has relied on the order of the Assessing Officer. 14. We have considered the rival submissions. In view of the evidence filed by the assessee in the compilation before us to prove that the assessee has mad .....

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