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Profit Enhanced due to disallowance u/s 40(a)(ia) allowed for Dedcution u/s 10AA
Case Law Details
- Case Name
- JCIT Vs Mphasis Ltd. (ITAT Bangalore)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2009-10
- Courts
- All ITAT, ITAT Bangalore
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JCIT Vs Mphasis Ltd. (ITAT Bangalore)
The issue under consideration is whether the profit enhanced due to disallowance u/s 40(a)(ia) is allowed for dedcution u/s 10AA?
ITAT states that, the disallowance u/s 40a (ia) is to be made of the expenses incurred and claimed by the assessee but before the payment of which, the assessee has failed to deduct tax at source. The genuineness of the expenditure is not in dispute. The dispute is whether TDS was to be made before making the payment. Without going into the nature of the transaction, ITAT are inclined to accept the alternate pl...
