https://www.taxtmi.com/caselaws?id=248496 The case involved two main issues: disallowance of interest expenditure and disallowance under section 40(a)(ia) for failure to deduct tax at source. The assessing officer disallowed the interest expenditure due to suspicion of diversion of funds, while the CIT(A) upheld part of the tax disallowance. The ITAT remanded both issues for fresh assessment, emphasizing proper examination by the assessing officer and adherence to legal provisions. The decision favored the revenue for statistical purposes, stressing due process and comprehensive review in both matters. en-us Wed, 28 May 2014 00:00:00 +0530 Sat, 14 Jun 2014 12:14:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=248496 The case involved two main issues: disallowance of interest expenditure and disallowance under section 40(a)(ia) for failure to deduct tax at source. The assessing officer disallowed the interest expenditure due to suspicion of diversion of funds, while the CIT(A) upheld part of the tax disallowance. The ITAT remanded both issues for fresh assessment, emphasizing proper examination by the assessing officer and adherence to legal provisions. The decision favored the revenue for statistical purposes, stressing due process and comprehensive review in both matters. Case-Laws Income Tax Wed, 28 May 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=248496