https://www.taxtmi.com/caselaws?id=401379 The Tribunal allowed the appeal, overturning the disallowance of Rs. 773833/- under section 40(a)(ia) of the Income Tax Act, 1961. The decision was based on the finding that section 194A did not apply to the financial charges under the hire purchase agreement, and the retrospective effect of the 2nd Proviso to section 40(a)(ia) applied since Tata Capital Ltd. had paid taxes on the charges. en-us Thu, 03 Dec 2020 00:00:00 +0530 Sat, 05 Dec 2020 18:23:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=401379 The Tribunal allowed the appeal, overturning the disallowance of Rs. 773833/- under section 40(a)(ia) of the Income Tax Act, 1961. The decision was based on the finding that section 194A did not apply to the financial charges under the hire purchase agreement, and the retrospective effect of the 2nd Proviso to section 40(a)(ia) applied since Tata Capital Ltd. had paid taxes on the charges. Case-Laws Income Tax Thu, 03 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=401379