Disallowance u/s 40(a)(ia) unsustainable as TDS not deductible on bank commission

DCIT Vs Sareen Sports Industries (ITAT Delhi) ITAT Delhi held that TDS provisions are not applicable in case of commission paid to bank and commission paid to partners. Accordingly, disallowance u/s 40(a)(ia) unsustainable. Facts- In course of assessment proceedings, while examining the audited financial statement of the assessee, the assessing officer found that a total credit balance of Rs.19,67,12,224 has been shown in the balance sheet. After calling for and examining the necessary details, the assessing officer observed that assessee could furnish details and confirmation in respect of su...