https://www.taxtmi.com/caselaws?id=258037 The ITAT upheld the CIT(A)'s decision to delete the addition of interest paid to a sister concern under section 40A(2)(b) and 37(1) of the Income Tax Act, stating proper TDS compliance since 1999-2000. The ITAT also agreed with the CIT(A) that expenses disallowed under section 40(a)(ia) for non-deduction of TDS were justified as TDS had been deducted by the payee. The AO's treatment of advances from a sister concern as deemed dividend income was adjusted by the CIT(A) after considering transactions. The appeal against the penalty under section 271(1)(c) was allowed for fresh consideration due to related issues being set aside. en-us Fri, 11 Jul 2014 00:00:00 +0530 Mon, 30 Mar 2015 06:01:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=258037 The ITAT upheld the CIT(A)'s decision to delete the addition of interest paid to a sister concern under section 40A(2)(b) and 37(1) of the Income Tax Act, stating proper TDS compliance since 1999-2000. The ITAT also agreed with the CIT(A) that expenses disallowed under section 40(a)(ia) for non-deduction of TDS were justified as TDS had been deducted by the payee. The AO's treatment of advances from a sister concern as deemed dividend income was adjusted by the CIT(A) after considering transactions. The appeal against the penalty under section 271(1)(c) was allowed for fresh consideration due to related issues being set aside. Case-Laws Income Tax Fri, 11 Jul 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=258037