https://www.taxtmi.com/caselaws?id=271758 The Supreme Court upheld the decision of the Commissioner of Income Tax (Appeals) regarding the deletion of disallowance of interest expenses under section 40(a)(ia) for assessment years 2010-11 & 2011-12. It was held that disallowance under section 40(a)(ia) applies only to amounts "payable" and not "paid." The ITAT Chennai Bench concurred, directing the Assessing Officer to disallow only outstanding amounts at the end of the relevant year. The judgment clarified the distinction between "payable" and "paid" amounts and provided guidance on TDS deductions for expense disallowance. The appeals by the Revenue were partly allowed for statistical purposes. en-us Wed, 20 Jan 2016 00:00:00 +0530 Tue, 16 Feb 2016 12:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=271758 The Supreme Court upheld the decision of the Commissioner of Income Tax (Appeals) regarding the deletion of disallowance of interest expenses under section 40(a)(ia) for assessment years 2010-11 & 2011-12. It was held that disallowance under section 40(a)(ia) applies only to amounts "payable" and not "paid." The ITAT Chennai Bench concurred, directing the Assessing Officer to disallow only outstanding amounts at the end of the relevant year. The judgment clarified the distinction between "payable" and "paid" amounts and provided guidance on TDS deductions for expense disallowance. The appeals by the Revenue were partly allowed for statistical purposes. Case-Laws Income Tax Wed, 20 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=271758