https://www.taxtmi.com/caselaws?id=294444 The Tribunal allowed the assessee's appeal, ruling in favor of the assessee on both issues. The disallowance under Section 40(a)(ia) for non-deduction of TDS on interest payments was not justified as the finance companies had paid taxes on the interest income. Additionally, the addition under Section 68 for unsecured loans and interest thereon was deleted since the material used against the assessee was not shared, violating principles of natural justice. The Tribunal pronounced the order in favor of the assessee on 5th July 2016 at Indore. en-us Tue, 05 Jul 2016 00:00:00 +0530 Thu, 15 Apr 2021 08:04:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=294444 The Tribunal allowed the assessee's appeal, ruling in favor of the assessee on both issues. The disallowance under Section 40(a)(ia) for non-deduction of TDS on interest payments was not justified as the finance companies had paid taxes on the interest income. Additionally, the addition under Section 68 for unsecured loans and interest thereon was deleted since the material used against the assessee was not shared, violating principles of natural justice. The Tribunal pronounced the order in favor of the assessee on 5th July 2016 at Indore. Case-Laws Income Tax Tue, 05 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=294444