https://www.taxtmi.com/caselaws?id=259743 The court concluded that Section 40(a)(ia) of the Income-tax Act applies to both paid and payable amounts, rejecting the argument that it only applies to amounts payable at year-end. It held that the term "payable" includes amounts paid during the year and applies to both cash and mercantile accounting systems. The court emphasized the mandatory nature of deducting tax at source under Chapter XVII-B and affirmed that failure to deduct or pay TDS results in disallowance of expenses. The appeals were dismissed, upholding the disallowance of expenses where TDS was not deducted or paid. en-us Wed, 29 Apr 2015 00:00:00 +0530 Tue, 11 Aug 2015 15:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=259743 The court concluded that Section 40(a)(ia) of the Income-tax Act applies to both paid and payable amounts, rejecting the argument that it only applies to amounts payable at year-end. It held that the term "payable" includes amounts paid during the year and applies to both cash and mercantile accounting systems. The court emphasized the mandatory nature of deducting tax at source under Chapter XVII-B and affirmed that failure to deduct or pay TDS results in disallowance of expenses. The appeals were dismissed, upholding the disallowance of expenses where TDS was not deducted or paid. Case-Laws Income Tax Wed, 29 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=259743