https://www.taxtmi.com/caselaws?id=270843 The Tribunal upheld the Commissioner of Income Tax (Appeals)' decision to delete the disallowance under section 40(a)(ia) for non-deduction of tax on delayed payment of dues on purchase of tractors. The Tribunal ruled that the interest paid was a trading liability and not subject to TDS, citing precedents and emphasizing that the payment was in the nature of a trade payment. The appeal by the Revenue was dismissed, and the disallowance under section 40(a)(ia) was directed to be deleted. en-us Wed, 28 Oct 2015 00:00:00 +0530 Mon, 18 Jan 2016 15:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=270843 The Tribunal upheld the Commissioner of Income Tax (Appeals)' decision to delete the disallowance under section 40(a)(ia) for non-deduction of tax on delayed payment of dues on purchase of tractors. The Tribunal ruled that the interest paid was a trading liability and not subject to TDS, citing precedents and emphasizing that the payment was in the nature of a trade payment. The appeal by the Revenue was dismissed, and the disallowance under section 40(a)(ia) was directed to be deleted. Case-Laws Income Tax Wed, 28 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=270843