https://www.taxtmi.com/caselaws?id=757214 The Tribunal overturned the CIT(A)'s order for AY 2009-10, siding with the assessee. It ruled that the addition to total income for interest on unsecured loans was unjustified, as Form 15G and 15H were timely submitted to the Assessing Officer, negating the need for tax deduction at source. The Tribunal found no legal basis for the disallowance under section 40(a)(ia) and deemed the CIT(A)'s direction for further verification unnecessary. The appeal was allowed, relieving the assessee from the disallowance and associated income additions. en-us Tue, 13 Aug 2024 00:00:00 +0530 Tue, 20 Aug 2024 08:25:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=757214 The Tribunal overturned the CIT(A)'s order for AY 2009-10, siding with the assessee. It ruled that the addition to total income for interest on unsecured loans was unjustified, as Form 15G and 15H were timely submitted to the Assessing Officer, negating the need for tax deduction at source. The Tribunal found no legal basis for the disallowance under section 40(a)(ia) and deemed the CIT(A)'s direction for further verification unnecessary. The appeal was allowed, relieving the assessee from the disallowance and associated income additions. Case-Laws Income Tax Tue, 13 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=757214