https://www.taxtmi.com/caselaws?id=328544 The High Court held that the Special Bench's decision in the case of Merilyn Shipping & Transports did not lay down the correct law regarding disallowance under section 40(a)(ia) of the Act for non-deduction of TDS on labor and carting charges. The Tribunal remitted the issue back to the CIT(A) for re-examination and dismissed the appeal on the disallowance of notional interest income, as the assessee did not provide material to challenge the findings. The Tribunal allowed the Revenue's appeal for statistical purposes, directing a fresh examination of the disallowance under section 40(a)(ia). en-us Wed, 11 May 2016 00:00:00 +0530 Tue, 07 Jun 2016 11:21:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=328544 The High Court held that the Special Bench's decision in the case of Merilyn Shipping & Transports did not lay down the correct law regarding disallowance under section 40(a)(ia) of the Act for non-deduction of TDS on labor and carting charges. The Tribunal remitted the issue back to the CIT(A) for re-examination and dismissed the appeal on the disallowance of notional interest income, as the assessee did not provide material to challenge the findings. The Tribunal allowed the Revenue's appeal for statistical purposes, directing a fresh examination of the disallowance under section 40(a)(ia). Case-Laws Income Tax Wed, 11 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=328544