https://www.taxtmi.com/caselaws?id=233515 The ITAT Hyderabad upheld the CIT(A)'s decisions regarding the disallowances and restrictions on expenses and tax deductions at source. The disallowance under section 40(a)(ia) for non-deduction of tax at source on chit dividend payments was not upheld as chit dividend does not qualify as interest under the Income Tax Act. The proportionate disallowance of expenses was restricted to Rs. 1.00 lakh for specific branches related to collections for subsidiary companies. The disallowance under section 40(a)(ia) for non-deduction of tax at source on payments to a company was sustained as part of a composite contract for marketing services. The ITAT dismissed challenges against these decisions, affirming the CIT(A)'s rulings. en-us Fri, 08 Feb 2013 00:00:00 +0530 Sat, 04 May 2013 08:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=233515 The ITAT Hyderabad upheld the CIT(A)'s decisions regarding the disallowances and restrictions on expenses and tax deductions at source. The disallowance under section 40(a)(ia) for non-deduction of tax at source on chit dividend payments was not upheld as chit dividend does not qualify as interest under the Income Tax Act. The proportionate disallowance of expenses was restricted to Rs. 1.00 lakh for specific branches related to collections for subsidiary companies. The disallowance under section 40(a)(ia) for non-deduction of tax at source on payments to a company was sustained as part of a composite contract for marketing services. The ITAT dismissed challenges against these decisions, affirming the CIT(A)'s rulings. Case-Laws Income Tax Fri, 08 Feb 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=233515