https://www.taxtmi.com/caselaws?id=180067 Section 40(a)(ia) disallowance cannot be sustained merely because tax was deducted at source under section 194C instead of section 194J on stock exchange transaction charges. The operative condition for disallowance is failure to deduct tax at source, or failure to pay tax after deduction within the prescribed time; a wrong TDS classification or short deduction by itself does not attract the provision. As tax was in fact deducted on the transaction charges, the disallowance was held unsustainable and the issue was decided in favour of the assessee. en-us Fri, 21 Nov 2014 00:00:00 +0530 Wed, 16 Mar 2016 10:19:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180067 Section 40(a)(ia) disallowance cannot be sustained merely because tax was deducted at source under section 194C instead of section 194J on stock exchange transaction charges. The operative condition for disallowance is failure to deduct tax at source, or failure to pay tax after deduction within the prescribed time; a wrong TDS classification or short deduction by itself does not attract the provision. As tax was in fact deducted on the transaction charges, the disallowance was held unsustainable and the issue was decided in favour of the assessee. Case-Laws Income Tax Fri, 21 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180067