https://www.taxtmi.com/caselaws?id=370607 The Tribunal dismissed the revenue's appeal on the disallowance under Section 40(a)(ia) of the Income Tax Act, confirming that no tax deduction at source was required on interest payments made to a bank. Additionally, the Tribunal allowed the assessee's appeal on the addition towards sundry creditors, deleting the amount added by the Assessing Officer due to lack of evidence and accepting the explanation provided by the assessee regarding the advance received and adjusted against sales. en-us Fri, 16 Nov 2018 00:00:00 +0530 Tue, 20 Nov 2018 07:49:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=370607 The Tribunal dismissed the revenue's appeal on the disallowance under Section 40(a)(ia) of the Income Tax Act, confirming that no tax deduction at source was required on interest payments made to a bank. Additionally, the Tribunal allowed the assessee's appeal on the addition towards sundry creditors, deleting the amount added by the Assessing Officer due to lack of evidence and accepting the explanation provided by the assessee regarding the advance received and adjusted against sales. Case-Laws Income Tax Fri, 16 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=370607