https://www.taxtmi.com/caselaws?id=218441 The Tribunal ruled in favor of the assessees, M/s. Gokuldas Virjibhai and Company, and M/s. Natwarlal Amritlal Parekh, in a case involving disallowance under section 40(a)(ia) of the Income Tax Act. The disallowance for payments to the Mathadi Board was deemed unjustified as the relationship between the parties did not constitute a principal-contractor relationship requiring TDS deduction. Additionally, the disallowance for interest paid to Neminath Nagari Sahkari Pat Sanstha was deleted, considering the assessee had obtained Form No. 15G, exempting TDS deduction, and the failure to submit the form to the CIT was viewed as a procedural lapse not warranting disallowance. en-us Wed, 12 Sep 2012 00:00:00 +0530 Fri, 16 Nov 2012 06:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=218441 The Tribunal ruled in favor of the assessees, M/s. Gokuldas Virjibhai and Company, and M/s. Natwarlal Amritlal Parekh, in a case involving disallowance under section 40(a)(ia) of the Income Tax Act. The disallowance for payments to the Mathadi Board was deemed unjustified as the relationship between the parties did not constitute a principal-contractor relationship requiring TDS deduction. Additionally, the disallowance for interest paid to Neminath Nagari Sahkari Pat Sanstha was deleted, considering the assessee had obtained Form No. 15G, exempting TDS deduction, and the failure to submit the form to the CIT was viewed as a procedural lapse not warranting disallowance. Case-Laws Income Tax Wed, 12 Sep 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=218441