https://www.taxtmi.com/caselaws?id=327347 The Tribunal upheld the CIT(A)'s decision to disallow expenses under section 40(a)(ia) of the Income Tax Act. It emphasized that the liability to deduct tax at source arises at the time of credit/payment, rejecting the appellant's argument that subsequent tax payment absolved them from interest under sections 201(1) and 201(1A). Citing the Pfizer Ltd. case, the Tribunal ruled that if an amount is suo moto disallowed under section 40(a)(ia), section 201 provisions do not apply. The appeal by the revenue was dismissed, affirming the CIT(A)'s decision and underscoring the importance of payee identification for TDS compliance. en-us Wed, 23 Mar 2016 00:00:00 +0530 Mon, 09 May 2016 00:40:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=327347 The Tribunal upheld the CIT(A)'s decision to disallow expenses under section 40(a)(ia) of the Income Tax Act. It emphasized that the liability to deduct tax at source arises at the time of credit/payment, rejecting the appellant's argument that subsequent tax payment absolved them from interest under sections 201(1) and 201(1A). Citing the Pfizer Ltd. case, the Tribunal ruled that if an amount is suo moto disallowed under section 40(a)(ia), section 201 provisions do not apply. The appeal by the revenue was dismissed, affirming the CIT(A)'s decision and underscoring the importance of payee identification for TDS compliance. Case-Laws Income Tax Wed, 23 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=327347