https://www.taxtmi.com/caselaws?id=460560 ITAT Chennai confirmed disallowance u/s 40(a)(ia) for non-deduction of TDS on consultancy charges and audit fees, upholding that tax must be deducted at payment time as per Income-tax Act provisions. Regarding addition u/s 68 for share application money, ITAT remitted the matter back to AO, directing verification of nine investor companies' existence through correct addresses from Department of Corporate Affairs website. The assessee was granted opportunity to provide accurate addresses to enable proper inquiry before concluding transactions as bogus, promoting justice through thorough verification. en-us Wed, 13 Apr 2016 00:00:00 +0530 Fri, 31 Jan 2025 18:55:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=460560 ITAT Chennai confirmed disallowance u/s 40(a)(ia) for non-deduction of TDS on consultancy charges and audit fees, upholding that tax must be deducted at payment time as per Income-tax Act provisions. Regarding addition u/s 68 for share application money, ITAT remitted the matter back to AO, directing verification of nine investor companies' existence through correct addresses from Department of Corporate Affairs website. The assessee was granted opportunity to provide accurate addresses to enable proper inquiry before concluding transactions as bogus, promoting justice through thorough verification. Case-Laws Income Tax Wed, 13 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=460560