https://www.taxtmi.com/caselaws?id=190562 Under the Hyderabad Income-tax Act, interest credited to non-resident lenders in an assessee's mercantile accounts was not treated as "payment" for withholding-tax purposes. The statutory expression "paid" in the computation or allowance provision could not be extended to the separate deduction-at-source provision, which required deduction at the time of actual payment. Mere capitalization, credit entry, or book adjustment did not discharge the debt or amount to payment. The question was answered in the negative, and the assessee succeeded on the point. en-us Wed, 08 Jul 1953 00:00:00 +0530 Sat, 18 Feb 2017 17:01:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=190562 Under the Hyderabad Income-tax Act, interest credited to non-resident lenders in an assessee's mercantile accounts was not treated as "payment" for withholding-tax purposes. The statutory expression "paid" in the computation or allowance provision could not be extended to the separate deduction-at-source provision, which required deduction at the time of actual payment. Mere capitalization, credit entry, or book adjustment did not discharge the debt or amount to payment. The question was answered in the negative, and the assessee succeeded on the point. Case-Laws Income Tax Wed, 08 Jul 1953 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=190562