https://www.taxtmi.com/caselaws?id=312066 ITAT Raipur allowed the appeal partly. Regarding TDS default u/s 201(1) for finance charges paid to NBFCs without TDS deduction, the tribunal held that when a CA certificate proves payees accounted income and paid taxes, no recovery can be enforced against the assessee per established precedents. The addition u/s 40(a)(ia) was deleted for certified amounts. For travelling and vehicle maintenance expenses, the tribunal found the ad-hoc disallowance arbitrary as revenue failed to identify specific defects or provide rationale for the percentage disallowed. The disallowance was entirely vacated as legitimate business expenditure u/s 37(1). en-us Mon, 14 Mar 2022 00:00:00 +0530 Tue, 30 Jan 2024 17:26:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=312066 ITAT Raipur allowed the appeal partly. Regarding TDS default u/s 201(1) for finance charges paid to NBFCs without TDS deduction, the tribunal held that when a CA certificate proves payees accounted income and paid taxes, no recovery can be enforced against the assessee per established precedents. The addition u/s 40(a)(ia) was deleted for certified amounts. For travelling and vehicle maintenance expenses, the tribunal found the ad-hoc disallowance arbitrary as revenue failed to identify specific defects or provide rationale for the percentage disallowed. The disallowance was entirely vacated as legitimate business expenditure u/s 37(1). Case-Laws Income Tax Mon, 14 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=312066