https://www.taxtmi.com/caselaws?id=275837 The appeals by the assessee were dismissed by the Hon'ble Punjab & Haryana High Court. The court upheld the disallowance under section 40(a)(ia) of the Income Tax Act due to non-deduction of TDS on interest payments to non-banking financial companies. The court confirmed that the provisions cover amounts payable during the accounting year, even if already paid. The appellant's challenges on personal expenses were also dismissed as the disallowance was limited to 10% for specific expenses, and no arguments against the reasonableness were presented. en-us Tue, 21 Jun 2016 00:00:00 +0530 Sat, 20 Oct 2018 09:55:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=275837 The appeals by the assessee were dismissed by the Hon'ble Punjab & Haryana High Court. The court upheld the disallowance under section 40(a)(ia) of the Income Tax Act due to non-deduction of TDS on interest payments to non-banking financial companies. The court confirmed that the provisions cover amounts payable during the accounting year, even if already paid. The appellant's challenges on personal expenses were also dismissed as the disallowance was limited to 10% for specific expenses, and no arguments against the reasonableness were presented. Case-Laws Income Tax Tue, 21 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=275837