https://www.taxtmi.com/caselaws?id=377442 The ITAT partially allowed the appeal, setting aside the disallowance of freight charges under sec. 40(a)(ia) of the Income Tax Act due to non-deduction of TDS on payments made to service providers. The ITAT also deleted the addition of accumulated profit as deemed dividend under sec. 2(22)(e) of the Act, emphasizing that the firm, not being a shareholder of the lending company, was not subject to taxation under this provision. The judgment highlighted the significance of adhering to tax deduction rules and clarified the application of deemed dividend provisions. en-us Wed, 27 Mar 2019 00:00:00 +0530 Thu, 28 Mar 2019 18:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=377442 The ITAT partially allowed the appeal, setting aside the disallowance of freight charges under sec. 40(a)(ia) of the Income Tax Act due to non-deduction of TDS on payments made to service providers. The ITAT also deleted the addition of accumulated profit as deemed dividend under sec. 2(22)(e) of the Act, emphasizing that the firm, not being a shareholder of the lending company, was not subject to taxation under this provision. The judgment highlighted the significance of adhering to tax deduction rules and clarified the application of deemed dividend provisions. Case-Laws Income Tax Wed, 27 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=377442