Expenditure can be disallowed only in the event of non-deduction of TDS & not in cases involving short deduction

Expenditure can be disallowed only in the event of non-deduction of tax at source, and not in the cases involving short deduction, TDS not required to be deducted on exchange rate difference if TDS  already been deducted at the time of credit of amount

Sandvik Asia Ltd. Vs. JCIT (ITAT Mumbai)-  Assessee was liable to pay Swiss Kroner 38,58,000/- to M/s A B Sandvik Coromant, Sweden and in the account books for the previous year relevant to the assessment year 1991-92, the said income was credited to the account of

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