https://www.taxtmi.com/caselaws?id=370766 Usance interest on delayed import payments was treated as interest liable to TDS, and the disallowance under section 40(a)(i) was restored because the payment was not accepted as part of purchase price and the doctrine of merger did not displace the earlier High Court view. Commission expenditure was largely accepted as relating to the year under consideration on the basis of confirmations, ledgers and vouchers, so the prior-period addition was deleted except for an unexplained mismatch of Rs. 1,870. Alleged excess stock was accepted as reconciled, supported by the competent authority's withdrawal of the discrepancy notice, and the related profit estimation was deleted. en-us Fri, 28 Sep 2018 00:00:00 +0530 Thu, 22 Nov 2018 21:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=370766 Usance interest on delayed import payments was treated as interest liable to TDS, and the disallowance under section 40(a)(i) was restored because the payment was not accepted as part of purchase price and the doctrine of merger did not displace the earlier High Court view. Commission expenditure was largely accepted as relating to the year under consideration on the basis of confirmations, ledgers and vouchers, so the prior-period addition was deleted except for an unexplained mismatch of Rs. 1,870. Alleged excess stock was accepted as reconciled, supported by the competent authority's withdrawal of the discrepancy notice, and the related profit estimation was deleted. Case-Laws Income Tax Fri, 28 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=370766