ITAT on Disallowance of Payments of interest to NBFC without TDS deduction

Mr. Shekhar Dadarkar Vs DCIT (ITAT Mumbai)

TDS provisions were applicable to interest payments made to NBFCs, however, if payees had shown interest income in their respective returns and paid income tax thereon, no disallowance could be made in view of second proviso to section 40(a)(ia).

FULL TEXT OF THE ITAT JUDGMENT

The above titled five appeals by the assessee and one by the Revenue have been preferred against the different orders of the Commission

Please become a Premium member. If you are already a Premium member, login here to access the full content.