https://www.taxtmi.com/caselaws?id=402561 The Tribunal ruled in favor of the appellant, a Law firm, challenging the disallowance of TDS payable claimed as expenditure in the Profit & Loss Account under the cash system of accounting for assessment years 2015-16 and 2016-17. The Tribunal considered the nature of tax deducted at source as a liability on the assessee and referenced legal provisions and a previous decision in favor of the appellant. Following the precedent set by a co-ordinate Bench for a similar issue, the Tribunal allowed both appeals of the assessee, emphasizing adherence to legal provisions and judicial decisions in determining the treatment of TDS payable under the Income Tax Act. en-us Wed, 28 Oct 2020 00:00:00 +0530 Wed, 06 Jan 2021 14:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=402561 The Tribunal ruled in favor of the appellant, a Law firm, challenging the disallowance of TDS payable claimed as expenditure in the Profit & Loss Account under the cash system of accounting for assessment years 2015-16 and 2016-17. The Tribunal considered the nature of tax deducted at source as a liability on the assessee and referenced legal provisions and a previous decision in favor of the appellant. Following the precedent set by a co-ordinate Bench for a similar issue, the Tribunal allowed both appeals of the assessee, emphasizing adherence to legal provisions and judicial decisions in determining the treatment of TDS payable under the Income Tax Act. Case-Laws Income Tax Wed, 28 Oct 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=402561