https://www.taxtmi.com/caselaws?id=272244 The Court held in favor of the Assessee, ruling that the deduction of expenses under Section 40(a)(iii) of the Income Tax Act was permissible. The Court emphasized that the Assessee complied with its tax obligations by depositing the TDS amount, even though it was done belatedly in response to CBDT Circulars. The Court noted that the strict time limit for TDS deposit under Section 40(a)(i) did not apply to Section 40(a)(iii) and allowed the Assessee to claim the deduction for overseas salaries paid. The appeal was allowed, and each party was to bear their own costs. en-us Tue, 01 Mar 2016 00:00:00 +0530 Mon, 02 May 2016 18:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=272244 The Court held in favor of the Assessee, ruling that the deduction of expenses under Section 40(a)(iii) of the Income Tax Act was permissible. The Court emphasized that the Assessee complied with its tax obligations by depositing the TDS amount, even though it was done belatedly in response to CBDT Circulars. The Court noted that the strict time limit for TDS deposit under Section 40(a)(i) did not apply to Section 40(a)(iii) and allowed the Assessee to claim the deduction for overseas salaries paid. The appeal was allowed, and each party was to bear their own costs. Case-Laws Income Tax Tue, 01 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=272244