https://www.taxtmi.com/caselaws?id=242711 Disallowance under section 40(a)(ia) cannot be invoked merely because Form 15G/Form 15H declarations were filed late or not forwarded to the prescribed authority under rule 29C, where the assessee had already received valid declarations from the payees before making interest payments. Once such declarations are furnished in the prescribed form under section 197A(1A), the payer is relieved of the obligation to deduct tax at source; any failure to file them timely with the department is a separate procedural default, attracting the consequence provided by the Act, not automatic disallowance. The statutory condition for section 40(a)(ia) was therefore not met. en-us Wed, 10 Jul 2013 00:00:00 +0530 Sun, 19 Jan 2014 16:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=242711 Disallowance under section 40(a)(ia) cannot be invoked merely because Form 15G/Form 15H declarations were filed late or not forwarded to the prescribed authority under rule 29C, where the assessee had already received valid declarations from the payees before making interest payments. Once such declarations are furnished in the prescribed form under section 197A(1A), the payer is relieved of the obligation to deduct tax at source; any failure to file them timely with the department is a separate procedural default, attracting the consequence provided by the Act, not automatic disallowance. The statutory condition for section 40(a)(ia) was therefore not met. Case-Laws Income Tax Wed, 10 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=242711