https://www.taxtmi.com/caselaws?id=181619 The court upheld the disallowance of interest expenditure under section 40(a)(ia) of the Act due to the assessee's failure to deduct TDS on payments made to depositors in the iron and steel business. The contention that certain payees had applied for No TDS/lower TDS was rejected. The court emphasized the mandatory nature of TDS deduction and upheld the disallowance, citing relevant provisions and case law. Additionally, the court sustained the charge of interest under section 234B of the Act, dismissing the appeal on this ground as not maintainable. The Tribunal affirmed the lower authorities' decisions, ultimately dismissing the appeal. en-us Tue, 16 Feb 2010 00:00:00 +0530 Wed, 20 Apr 2016 17:56:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=181619 The court upheld the disallowance of interest expenditure under section 40(a)(ia) of the Act due to the assessee's failure to deduct TDS on payments made to depositors in the iron and steel business. The contention that certain payees had applied for No TDS/lower TDS was rejected. The court emphasized the mandatory nature of TDS deduction and upheld the disallowance, citing relevant provisions and case law. Additionally, the court sustained the charge of interest under section 234B of the Act, dismissing the appeal on this ground as not maintainable. The Tribunal affirmed the lower authorities' decisions, ultimately dismissing the appeal. Case-Laws Income Tax Tue, 16 Feb 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=181619