https://www.taxtmi.com/caselaws?id=398198 Where an assessment order contains no enquiry into interest expenditure attracting TDS obligations, it may be treated as erroneous and prejudicial to the interests of the Revenue for revision under section 263. The article notes that the payee was a company incorporated under the Companies Act, 1956, not a corporation established by or under a Central, State or Provincial Act, so the exemption in section 194A(3)(iii)(b) did not apply. It also states that the assessee did not comply with Rule 31ACB and the first proviso to section 201(1), supporting disallowance under section 40(a)(ia). en-us Fri, 14 Aug 2020 00:00:00 +0530 Wed, 09 Sep 2020 10:36:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=398198 Where an assessment order contains no enquiry into interest expenditure attracting TDS obligations, it may be treated as erroneous and prejudicial to the interests of the Revenue for revision under section 263. The article notes that the payee was a company incorporated under the Companies Act, 1956, not a corporation established by or under a Central, State or Provincial Act, so the exemption in section 194A(3)(iii)(b) did not apply. It also states that the assessee did not comply with Rule 31ACB and the first proviso to section 201(1), supporting disallowance under section 40(a)(ia). Case-Laws Income Tax Fri, 14 Aug 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=398198