https://www.taxtmi.com/caselaws?id=471046 Closure of proceedings for failure to deduct tax at source, after finding that overseas transactions were at arm's length and the assessee was not in default, removed the basis for disallowance of the related payments. The disallowance under Section 40(a)(i) was therefore deleted. The Tribunal correctly applied binding jurisdictional precedent, as no contrary binding decision was identified, and the deletion was sustained in favour of the assessee. en-us Mon, 20 May 2024 00:00:00 +0530 Wed, 19 Aug 2026 18:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=471046 Closure of proceedings for failure to deduct tax at source, after finding that overseas transactions were at arm's length and the assessee was not in default, removed the basis for disallowance of the related payments. The disallowance under Section 40(a)(i) was therefore deleted. The Tribunal correctly applied binding jurisdictional precedent, as no contrary binding decision was identified, and the deletion was sustained in favour of the assessee. Case-Laws Income Tax Mon, 20 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=471046