https://www.taxtmi.com/caselaws?id=776174 The ITAT Kolkata set aside the orders of the AO and CIT(A) regarding disallowance under section 40(a)(ia) for interest paid to financers, lease rent, and dumper hire charges. The assessee failed to provide evidence that the interest recipients had declared the income and paid tax, placing the onus on the assessee. However, since the assessee made efforts and considering the second proviso to section 40(a)(ia), the matter requires further verification. The AO was directed to reopen the assessment and pass a fresh order after giving the assessee adequate opportunity. The appeal was allowed for statistical purposes. en-us Fri, 03 Jan 2025 00:00:00 +0530 Wed, 06 Aug 2025 08:19:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=776174 The ITAT Kolkata set aside the orders of the AO and CIT(A) regarding disallowance under section 40(a)(ia) for interest paid to financers, lease rent, and dumper hire charges. The assessee failed to provide evidence that the interest recipients had declared the income and paid tax, placing the onus on the assessee. However, since the assessee made efforts and considering the second proviso to section 40(a)(ia), the matter requires further verification. The AO was directed to reopen the assessment and pass a fresh order after giving the assessee adequate opportunity. The appeal was allowed for statistical purposes. Case-Laws Income Tax Fri, 03 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=776174