Disallowance u/s 40(a)(ia) not applicable to Short-Deduction of TDS

A.K. Industries Vs ACIT (ITAT Kolkata) In the given case, all the grounds relate to the issue of disallowance under 40(a)(ia) made by the AO of an amount of Rs 1,94,47,590, the same are dealt together. During the course of assessment proceedings the AO noticed that the appellant was required to deduct TDS in respect of various expenditures under different heads but failed to comply with the provisions of the IT act in respect of TDS deduction. The AO observes that the appellant was liable to deduct TDS of Rs 4,08,954 under section 194C of the Income Tax Act from the total expenditure of Rs.2,0...