https://www.taxtmi.com/caselaws?id=397736 The High Court of Karnataka dismissed the appeal brought by the revenue challenging the deletion of a substantial sum disallowed by the Assessing Authority under Section 40(a)(ia) of the Income Tax Act, 1961. The Court relied on the precedent set by the Supreme Court in a similar case, where it was established that the rigors of Section 40(a)(ia) could not be attracted if the amount was paid in the subsequent year. Therefore, the High Court ruled in favor of the assessee, affirming the decision to delete the disallowance. en-us Mon, 17 Aug 2020 00:00:00 +0530 Thu, 27 Aug 2020 12:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=397736 The High Court of Karnataka dismissed the appeal brought by the revenue challenging the deletion of a substantial sum disallowed by the Assessing Authority under Section 40(a)(ia) of the Income Tax Act, 1961. The Court relied on the precedent set by the Supreme Court in a similar case, where it was established that the rigors of Section 40(a)(ia) could not be attracted if the amount was paid in the subsequent year. Therefore, the High Court ruled in favor of the assessee, affirming the decision to delete the disallowance. Case-Laws Income Tax Mon, 17 Aug 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=397736