https://www.taxtmi.com/caselaws?id=333673 The Tribunal upheld the CIT(A)'s decision in favor of the assessee, ruling that no tax was required to be deducted on the interest payment to the bank as it fell under an exception in section 194A of the Income Tax Act. The Tribunal dismissed the Revenue's appeal, affirming the CIT(A)'s decision to delete the addition made by the AO under section 40(A)(ia) of the Act. In a separate matter, the Tribunal also sided with the assessee, agreeing that no tax deduction was necessary on the interest payment to the bank, as per relevant provisions of the Income Tax Act. en-us Tue, 30 Aug 2016 00:00:00 +0530 Thu, 20 Oct 2016 19:09:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=333673 The Tribunal upheld the CIT(A)'s decision in favor of the assessee, ruling that no tax was required to be deducted on the interest payment to the bank as it fell under an exception in section 194A of the Income Tax Act. The Tribunal dismissed the Revenue's appeal, affirming the CIT(A)'s decision to delete the addition made by the AO under section 40(A)(ia) of the Act. In a separate matter, the Tribunal also sided with the assessee, agreeing that no tax deduction was necessary on the interest payment to the bank, as per relevant provisions of the Income Tax Act. Case-Laws Income Tax Tue, 30 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=333673