Allahabad High Court also rules that sec 40(a)(ia) is applicable on “Payable”

CA Prarthana Jalan Hon’ble Allahabad High Court in the case of Ashok Auto Sales Ltd v/s CIT , Agra in Income Tax Appeal No. 351/2013 vide order dated 23.11.2017 has held that Vector shipping is not the correct preposition of law as held by Honb’le SC in the case of M/s Palam Gas Service vs. Commissioner of Income Tax Civil Appeal No.5512 of 2017 decided on 03.05.2017 The impugned appeal was filed by the appellant against the order of Income Tax Appellate Tribunal, Agra Bench dated 19.07.2013 for the assessment year 2009-10 raising the following substantial questions of law :- ̶...