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Income Tax - Highlights / Catch Notes

Home Highlights May 2017 Year 2017 This

Interpretation of Section 40(a)(ia) - it cannot be held that the ...


Supreme Court Clarifies Section 40(a)(ia) of Income Tax Act: "Payable" Includes Paid and Unpaid Amounts in Transactions.

May 5, 2017

Case Laws     Income Tax     SC

Interpretation of Section 40(a)(ia) - it cannot be held that the word 'payable' occurring in Section 40(a)(ia) refers to only those cases where the amount is yet to be paid and does not cover the cases where the amount is actually paid - SC

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