https://www.taxtmi.com/caselaws?id=170832 The Tribunal held that Section 40(a)(ia) of the Income-tax Act applies only to amounts payable as of the balance sheet date, not to amounts already paid during the year. The term "payable" was interpreted strictly in line with legislative intent and TDS provisions, emphasizing that the legal fiction created by the section should not extend to disallow paid amounts. The decision aimed to harmoniously construe the provision with TDS requirements, ensuring compliance without widening the scope beyond outstanding liabilities. en-us Thu, 29 Mar 2012 00:00:00 +0530 Tue, 25 Apr 2023 12:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=170832 The Tribunal held that Section 40(a)(ia) of the Income-tax Act applies only to amounts payable as of the balance sheet date, not to amounts already paid during the year. The term "payable" was interpreted strictly in line with legislative intent and TDS provisions, emphasizing that the legal fiction created by the section should not extend to disallow paid amounts. The decision aimed to harmoniously construe the provision with TDS requirements, ensuring compliance without widening the scope beyond outstanding liabilities. Case-Laws Income Tax Thu, 29 Mar 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=170832