Tribunal Rules Misapplication of Section 263 in TDS Disallowance; No Revenue Loss Found Due to Timing of Payments.

Tribunal Rules Misapplication of Section 263 in TDS Disallowance; No Revenue Loss Found Due to Timing of Payments. https://www.taxtmi.com/highlights?id=74481 Revision u/s 263 - Disallowance u/s 40(a)(ia) on non deduction of TDS - The Tribunal found that the Principal Commissioner had incorrectly invoked section 263 as the payments and Tax Deducted at Source (TDS) were related to the subsequent financial year and there was no revenue implication or prejudice to the Revenue. en-us Tue, 30 Jan 2024 08:51:32 +0530 Tue, 30 Jan 2024 08:51:32 +0530 TaxTMI RSS Generator Tribunal Rules Misapplication of Section 263 in TDS Disallowance; No Revenue Loss Found Due to Timing of Payments. https://www.taxtmi.com/highlights?id=74481 Revision u/s 263 - Disallowance u/s 40(a)(ia) on non deduction of TDS - The Tribunal found that the Principal Commissioner had incorrectly invoked section 263 as the payments and Tax Deducted at Source (TDS) were related to the subsequent financial year and there was no revenue implication or prejudice to the Revenue. Highlights Income Tax Tue, 30 Jan 2024 08:51:32 +0530 https://www.taxtmi.com/highlights?id=74481