Section 40(a)(ia) Disallowance Invalid for Mere Short Deduction of TDS: Bombay HC

PCIT Vs Media Worldwide Ltd. (Bombay High Court) In , the Bombay High Court dismissed the Revenue’s appeal filed under Section 260A of the Income-tax Act, 1961 against an order of the Income Tax Appellate Tribunal for Assessment Year 2012-13. The dispute concerned disallowance under Section 40(a)(ia) relating to channel placement fees, uplinking charges, and bandwidth charges claimed by the assessee, which was engaged in the business of telecasting programmes. The Assessing Officer had held that although the assessee deducted tax at source at 2% under Section 194C, the payments were actually...