https://www.taxtmi.com/caselaws?id=279989 Section 40(a)(ia) was treated as an anti-avoidance disallowance provision requiring tax deduction at source as a condition for allowance, and it was held not to apply only to sums outstanding at year-end. Interest payments already made during the year did not, by themselves, prevent disallowance where tax was not deducted. For payments said to be covered by section 10(23C) approval, the recipient's statutory status and actual taxability still had to be verified because approval does not automatically create blanket exemption in every case. The matter was therefore remitted for limited factual verification on the approval and taxability of the recipient entities. en-us Fri, 21 Nov 2014 00:00:00 +0530 Tue, 16 Apr 2019 14:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=279989 Section 40(a)(ia) was treated as an anti-avoidance disallowance provision requiring tax deduction at source as a condition for allowance, and it was held not to apply only to sums outstanding at year-end. Interest payments already made during the year did not, by themselves, prevent disallowance where tax was not deducted. For payments said to be covered by section 10(23C) approval, the recipient's statutory status and actual taxability still had to be verified because approval does not automatically create blanket exemption in every case. The matter was therefore remitted for limited factual verification on the approval and taxability of the recipient entities. Case-Laws Income Tax Fri, 21 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=279989