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Section 195 not applicable if expense was not paid or claimed
Case Law Details
- Case Name
- DCIT Vs Coffeeday Enterprises Ltd (ITAT Bangalore)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2011-12
- Courts
- All ITAT, ITAT Bangalore
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DCIT Vs Coffeeday Enterprises Ltd (ITAT Bangalore)
In terms of section 195, the liability to withhold taxes arrears at the time of payment/credit of any interest (or any other sum) which is chargeable under the provisions of the Act. The payment/credit was not made till 31.03.2010 and also in terms of the Agreement, interest was due on 30.04.2011, i.e., in F.Y 2011-12 relevant to A.Y.2012-13. No such interest expenditure was claimed by the assessee. After perusal of the financials of the assessee company for F.Y. 2010-11, we find that the total finance charges claimed were to ...
