Disallowing interest expenses u/s. 40(a)(ia) - tax deducted at ...

Interest Expense Disallowance u/s 40(a)(ia) Challenged; Assessing Officer to Verify Payee's Income Recording.

November 19, 2021

Case Laws Income Tax AT

Disallowing interest expenses u/s. 40(a)(ia) - tax deducted at source (TDS) was not deposited - No disallowance u/s. 40(a)(ia) is warranted as the payee has accounted for the interest income in its Books of Accounts and filed its return of income u/s. 139(1) of the Act. However, since the information filed by the assessee showing that the payee had accounted for the interest receipts in its Books of Accounts and paid taxes, were never examined by the lower authorities, subject to verification of these evidences by the Assessing Officer, we direct to delete the disallowance made u/s. 40(a)(ia) of the Act. - AT

View Source

← Previous Next →

Disallowing interest expenses u/s. 40(a)(ia) - tax deducted at ...

Interest Expense Disallowance u/s 40(a)(ia) Challenged; Assessing Officer to Verify Payee's Income Recording.

November 19, 2021

Case Laws Income Tax AT

You may also like:

Deduction u/s 35(2AB) for in-house Research and Development (R&D) expenses was disallowed as the assessee failed to properly explain the basis of claim and reconcile the...

Deduction claimed u/s 57 against income returned u/s 56 - manner of apportioning assessee's expenses to earning income u/s 56 disputed - Revenue authorities rejecting...

Disallowance on work penalty expenses u/s 40(a)(ia) - Whether the work penalty expenses were actually interest expenses liable to provisions of TDS – Held No - HC

Addition u/s 40(a)(ia) - non-deduction of TDS - the assessee cannot comply the provisions of chapter XVII of the Act with respect to the expenses claimed on provisional...

TDS u/s 194A - Disallowance of interest expenses u/s 40(a)(ia) - non deduction of TDS - it is noticed that counsel of the assessee has voluntarily agreed for the...

Disallowance u/s 40(a)(ia) - Delayed deposit of TDS colected in government exchequer - there cannot be any disallowance on this count. Assessing Officer could not have...

Disallowance u/s 40(a)(ia) for late filing of Forms 15G and 15H is not justified. Even if the assessee fails to furnish the declaration forms before the concerned...

Disallowance u/s 40(a)(ia) - TDS - Non deposition / submission of Form 15H / 15G is not a ground to disallow expense u/s 40(a)(ia) - AT

TDS u/s 194A on Interest - Disallowance of re-imbursement of interest u/s.40(a)(ia) - payment of interest through the parent company - no justification to invoke the...

TDS u/s 195 - disallowance u/s 40(a)(ia) - FTS - at the best, for the failure of the assessee for furnishing Form 15CA and 15CB, the Assessing Officer may initiate...

Application u/s 154 - benefit of the second proviso to Section 40(a)(ia), introduced by the Finance Act, 2012, with effect from 01.04.2013 - This proviso allows relief...

Non deduction of TDS u/s 194A - Assessee could escape the rigors of Sec.40(a)(ia) in terms of second proviso to Section 40(a)(ia) read with first proviso to sub-section...

Disallowance u/s 40(a)(ia) on payment of salary - TDS u/s 192B - in Section 40(a)(ia), the word “Salary” have not been incorporated - no disallowance

Disallowance of expenditure u/s 40(a)(ia) – Whether disallowance of expenditure u/s 40(a)(ia) is ‘eligible profit’ from housing project u/s.80IB(10) - Held Yes - AT

Disallowance of deduction expenditure u/s 40(a)(ia) - adhoc provision - It is ex-facie apparent that the contention of the assessee inasmuch as non-identification of the...

Quick Updates: