https://www.taxtmi.com/caselaws?id=342371 The appeal by the assessee was dismissed, upholding the disallowance of interest payment deduction under section 40(a)(ia) due to non-deduction of TDS. The court found that TDS was required as the loan was given to the company, not the individual MD, and that non-deduction of tax on interest payment violated the provision. Despite arguments on the interpretation of "paid" vs. "payable" status and equity considerations, the disallowance was upheld based on previous judgments and authorities' findings. en-us Thu, 20 Apr 2017 00:00:00 +0530 Wed, 03 May 2017 07:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=342371 The appeal by the assessee was dismissed, upholding the disallowance of interest payment deduction under section 40(a)(ia) due to non-deduction of TDS. The court found that TDS was required as the loan was given to the company, not the individual MD, and that non-deduction of tax on interest payment violated the provision. Despite arguments on the interpretation of "paid" vs. "payable" status and equity considerations, the disallowance was upheld based on previous judgments and authorities' findings. Case-Laws Income Tax Thu, 20 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=342371