2020 (1) TMI 1297 - SCH - Income Tax

TDS u/s 194A - Addition invoking Sec.40(a)(ia) - whether Tribunal erred in law in making addition u/s 40(a)(ia) when the payee has included the entire interest paid by the appellant in its total income and filed return of income accordingly? - whether u/s 194A, an individual is excluded from the liability to deduct tax and that therefore, disallowance is without jurisdiction? - Whether second proviso to Section 40(a)(ia) of the Act, introduced by the Finance Act 2012, being retrospective in operation, disallowance could not have been ordered invoking Section 40 (a)(ia) of the Act? - HELD THAT - Leave granted.To be disposed of within one year.

Summary

The Supreme Court of India granted leave in the case and ordered it to be disposed of within one year. The matter was tagged along with Civil Appeal No. 7326 of 2016.