https://www.taxtmi.com/caselaws?id=466151 Non-deduction of TDS on interest paid to NBFCs raised disallowance of 30% of interest under disallowance rules for non-withholding; tribunal relied on precedent that where the payee has included the receipt in its return and paid tax, the payer cannot be saddled with disallowance, resulting in deletion of disallowance for three NBFCs as they produced evidence of income inclusion and tax payment. For payments to the fourth NBFC, absence of documentary proof of the payees tax treatment led to remand to the assessing officer to verify whether the payee accounted for and paid tax on the interest; matter partly allowed. en-us Fri, 07 Feb 2025 00:00:00 +0530 Tue, 27 Jan 2026 19:03:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=466151 Non-deduction of TDS on interest paid to NBFCs raised disallowance of 30% of interest under disallowance rules for non-withholding; tribunal relied on precedent that where the payee has included the receipt in its return and paid tax, the payer cannot be saddled with disallowance, resulting in deletion of disallowance for three NBFCs as they produced evidence of income inclusion and tax payment. For payments to the fourth NBFC, absence of documentary proof of the payees tax treatment led to remand to the assessing officer to verify whether the payee accounted for and paid tax on the interest; matter partly allowed. Case-Laws Income Tax Fri, 07 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=466151