https://www.taxtmi.com/caselaws?id=191011 The ITAT Jaipur ruled in favor of the assessee in a case involving disallowance under Section 40(a)(ia) of the Income Tax Act for non-deduction of tax at source on interest paid to NBFCs. The Tribunal applied the principle of resolving ambiguities in favor of the assessee due to conflicting judicial opinions, setting aside the disallowance and emphasizing adherence to binding precedents. The decision highlighted the interpretation of "payable" under Section 40(a)(ia) and the importance of considering judicial precedents in tax matters. en-us Tue, 06 Sep 2016 00:00:00 +0530 Thu, 16 Mar 2017 22:48:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=191011 The ITAT Jaipur ruled in favor of the assessee in a case involving disallowance under Section 40(a)(ia) of the Income Tax Act for non-deduction of tax at source on interest paid to NBFCs. The Tribunal applied the principle of resolving ambiguities in favor of the assessee due to conflicting judicial opinions, setting aside the disallowance and emphasizing adherence to binding precedents. The decision highlighted the interpretation of "payable" under Section 40(a)(ia) and the importance of considering judicial precedents in tax matters. Case-Laws Income Tax Tue, 06 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=191011