Section 197A(1A) merely requires a declaration to be filed by the payee of the interest, and once it is filed the payer not liable to deduct TDS therefrom under s 194A and no disallowance can be made under s 40(a)(ia)

Vipin P. Mehta v ITO ITAT, Mumbai ITA No. 3317 (Mum.) of 2010 Assessment Year: 2006-07 Decided on: 20 May 2011 Order R.V. Easwar, President 1. This is an appeal by the assessee and it relates to the assessment year 2006-07. The assessee is an individual carrying on business in the manufacture and printing of packaging materials in the name and style of M/s. V.P. Mehta and Co. The appeal arises out of the assessment made on him under section 143(3) of the Income-tax Act by an order dated 24-12-2008. 2. The only ground in the appeal is whether the departmental authorities are ju...