https://www.taxtmi.com/caselaws?id=769696 ITAT Chennai ruled on TDS demand under sections 201 and 201(1A) regarding year-end provisions. The assessee created provisions of Rs. 27,87,89,271 for estimated vendor services but actually paid only Rs. 24,76,17,968. The tribunal held no TDS liability exists on excess unpaid provisions of Rs. 3,11,71,303 as no payment was made to vendors and the excess was transferred to profit and loss account. However, interest under section 201(1A) was upheld on the actual payment amount from provision date to actual payment date, following Biocon Ltd. precedent. en-us Wed, 22 Jan 2025 00:00:00 +0530 Wed, 30 Apr 2025 08:38:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=769696 ITAT Chennai ruled on TDS demand under sections 201 and 201(1A) regarding year-end provisions. The assessee created provisions of Rs. 27,87,89,271 for estimated vendor services but actually paid only Rs. 24,76,17,968. The tribunal held no TDS liability exists on excess unpaid provisions of Rs. 3,11,71,303 as no payment was made to vendors and the excess was transferred to profit and loss account. However, interest under section 201(1A) was upheld on the actual payment amount from provision date to actual payment date, following Biocon Ltd. precedent. Case-Laws Income Tax Wed, 22 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=769696