Sec 194A TDS deductible on interest on loan availed for vehicle purchase

ACIT Vs Ms. Krystal Aviation Services Pvt. Ltd. (ITAT Mumbai) Conclusion: TDS under section 194A was  liable to be deducted on amount paid towards interest on loan availed for purchasing a vehicle even when the amount in question was debited from the account of assessee through ECS and disallowance under section 40(a)(ia) was to be made for non-deduction of tax at source even when nothing remained outstanding at the end of the year as the provisions contained under section 40(a)(ia)  did not make any distinction between the amount paid or payable. Held: Undisputedly, assessee had paid the am...