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Violation of section 194C(7) doesn’t attract disallowance u/s 40(a)(ia) as section 194C(6) duly complied
Case Law Details
- Case Name
- ACIT Vs Quippo Oil & Gas Infrastructure Ltd. (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2013-14
- Courts
- All ITAT, ITAT Delhi
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ACIT Vs Quippo Oil & Gas Infrastructure Ltd. (ITAT Delhi)
ITAT Delhi held that disallowance u/s 40(a)(ia) of the Income Tax Act unjustified as there was due compliance with provisions of section 194C(6). Violation of provisions of section 194C(7) doesn’t attract disallowance u/s 40(a)(ia) of Income Tax Act.
Facts- The assessee filed return of income for A.Y. 2013-14 declaring loss of Rs. 10,63,43,600/-. The assessment order came to be passed disallowing the depreciation of Rs.3,01,78,780/- on oil drilling rigs, unpaid provisions of leave encashment of Rs. 4,32,147/-, the mobilization of ...
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