https://www.taxtmi.com/caselaws?id=387831 The Tribunal allowed the appeal of the assessee, directing the Assessing Officer to allow the claimed bank guarantee charges of Rs. 3,90,289. The Tribunal found that the issue was covered in favor of the assessee by CBDT Notification and judicial precedents, setting aside the CIT(A)'s order disallowing the expenses under Section 40(a)(ia) of the Income Tax Act, 1961. The Tribunal did not separately adjudicate the argument regarding disallowance if the payee had included the sum in its return of income and paid the tax due. en-us Thu, 03 Oct 2019 00:00:00 +0530 Fri, 01 Nov 2019 12:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=387831 The Tribunal allowed the appeal of the assessee, directing the Assessing Officer to allow the claimed bank guarantee charges of Rs. 3,90,289. The Tribunal found that the issue was covered in favor of the assessee by CBDT Notification and judicial precedents, setting aside the CIT(A)'s order disallowing the expenses under Section 40(a)(ia) of the Income Tax Act, 1961. The Tribunal did not separately adjudicate the argument regarding disallowance if the payee had included the sum in its return of income and paid the tax due. Case-Laws Income Tax Thu, 03 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=387831