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Income Tax - Highlights / Catch Notes

Home Highlights July 2015 Year 2015 This

Addition invoking Sec.40(a)(ia) - The language of the Section ...

Income Tax

July 24, 2015

Addition invoking Sec.40(a)(ia) - The language of the Section does not warrant an interpretation that it is attracted only if the interest remains payable on the last day of the financial year. If this contention is to be accepted, this Court will have to alter the language of Section 40(a) (ia) and such an interpretation is not permissible. - HC

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