https://www.taxtmi.com/caselaws?id=254848 The Tribunal upheld the disallowance of interest under section 40(a)(ia) of the IT Act for failure to deduct TDS on interest payments to Tata Capital Ltd. and Tata Motor Finance Ltd. The assessee's argument that disallowance should only apply to year-end payable amounts, not already paid, was rejected. The Tribunal emphasized that the assessee admitted to the TDS non-deduction, and the stay on the ITAT Special Bench decision made it inapplicable. The appeal was dismissed for lacking merit, with the Tribunal underscoring the importance of clarity in rectifying mistakes and inability to review own orders on debatable issues. en-us Fri, 14 Feb 2014 00:00:00 +0530 Fri, 02 Jan 2015 08:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=254848 The Tribunal upheld the disallowance of interest under section 40(a)(ia) of the IT Act for failure to deduct TDS on interest payments to Tata Capital Ltd. and Tata Motor Finance Ltd. The assessee's argument that disallowance should only apply to year-end payable amounts, not already paid, was rejected. The Tribunal emphasized that the assessee admitted to the TDS non-deduction, and the stay on the ITAT Special Bench decision made it inapplicable. The appeal was dismissed for lacking merit, with the Tribunal underscoring the importance of clarity in rectifying mistakes and inability to review own orders on debatable issues. Case-Laws Income Tax Fri, 14 Feb 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=254848