Commercial vehicle depreciation, scientifically determined warranty provisions and exempt-income disallowances were resolved in favour of the taxpayer...
Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
Constitutional judicial review permits challenges to ECIRs and connected money-laundering proceedings where coercive action affects fundamental intere...
The ITAT, an Appellate Tribunal, addressed the issue of TDS u/s 194A. The case involved delay interest charged by a broker, treated as finance cost, without TDS deduction. ITAT held that interest paid for delayed payments, not on borrowed capital, isn't covered u/s 2(28A). Citing a similar case, ITAT directed AO to delete the addition, allowing the assessee's appeal. The decision clarified that Section 194A applies to interest on borrowed capital, not on delayed purchase payments.
The ITAT, an Appellate Tribunal, addressed the issue of TDS u/s 194A. The case involved delay interest charged by a broker, treated as finance cost, without TDS deduction. ITAT held that interest paid for delayed payments, not on borrowed capital, isn't covered u/s 2(28A). Citing a similar case, ITAT directed AO to delete the addition, allowing the assessee's appeal. The decision clarified that Section 194A applies to interest on borrowed capital, not on delayed purchase payments.
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