https://www.taxtmi.com/caselaws?id=762849 ITAT Delhi ruled on addition under Section 40(a)(ia) regarding interest paid on loans where the assessee failed to deduct TDS. Following precedents from Smt. Kanta Yadav and Priyamda Media Infotainment Private Limited cases, the Tribunal restricted the disallowance to 30% of the interest amount instead of complete disallowance. The Assessing Officer was directed to limit the disallowance under Section 40(a)(ia) to 30% of the interest on loans, providing relief to the assessee from full disallowance. en-us Fri, 06 Dec 2024 00:00:00 +0530 Mon, 09 Dec 2024 08:44:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=762849 ITAT Delhi ruled on addition under Section 40(a)(ia) regarding interest paid on loans where the assessee failed to deduct TDS. Following precedents from Smt. Kanta Yadav and Priyamda Media Infotainment Private Limited cases, the Tribunal restricted the disallowance to 30% of the interest amount instead of complete disallowance. The Assessing Officer was directed to limit the disallowance under Section 40(a)(ia) to 30% of the interest on loans, providing relief to the assessee from full disallowance. Case-Laws Income Tax Fri, 06 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=762849