07 July 2014

SC on Sec 40(a)(ia)

Supreme Court dismisses IT Department's SLP on Vector Shipping Company case reported in 357 ITR 642 (ALL)

Section 40(a)(ia) disallowance is attracted only in cases of non deduction of tax at source on expenses payable. Non deduction of tax at source on expenses paid will not attract section 40(a)(ia)

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