https://www.taxtmi.com/caselaws?id=371142 The Tribunal remanded the issue to the AO for verification regarding the disallowance of finance cost under section 40(a)(ia) for non-deduction of TDS on interest payments to Non-Banking Financial Corporations (NBFCs). Emphasizing the importance of verifying tax compliance by the recipient companies, the Tribunal allowed the appeal for statistical purposes, indicating that if the NBFCs included the interest in their income tax calculations, no disallowance should be made under section 40(a)(ia). en-us Tue, 23 Oct 2018 00:00:00 +0530 Thu, 29 Nov 2018 07:56:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=371142 The Tribunal remanded the issue to the AO for verification regarding the disallowance of finance cost under section 40(a)(ia) for non-deduction of TDS on interest payments to Non-Banking Financial Corporations (NBFCs). Emphasizing the importance of verifying tax compliance by the recipient companies, the Tribunal allowed the appeal for statistical purposes, indicating that if the NBFCs included the interest in their income tax calculations, no disallowance should be made under section 40(a)(ia). Case-Laws Income Tax Tue, 23 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=371142