https://www.taxtmi.com/caselaws?id=365711 The Tribunal upheld the CIT(A)'s decision to delete disallowances under Sections 40(a)(ia) and 37 of the Income Tax Act. In the first issue, the disallowance for non-deduction of TDS on interest payments was overturned as the interest was included in the income of the NBFCs. The second issue involved sales promotion expenses, which were allowed as necessary for the operation of supplied machinery, not as gifts to medical practitioners. The Tribunal found the Revenue's appeals unjustified and dismissed them, affirming the CIT(A)'s decisions. en-us Tue, 31 Jul 2018 00:00:00 +0530 Wed, 22 Aug 2018 08:05:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=365711 The Tribunal upheld the CIT(A)'s decision to delete disallowances under Sections 40(a)(ia) and 37 of the Income Tax Act. In the first issue, the disallowance for non-deduction of TDS on interest payments was overturned as the interest was included in the income of the NBFCs. The second issue involved sales promotion expenses, which were allowed as necessary for the operation of supplied machinery, not as gifts to medical practitioners. The Tribunal found the Revenue's appeals unjustified and dismissed them, affirming the CIT(A)'s decisions. Case-Laws Income Tax Tue, 31 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=365711