https://www.taxtmi.com/caselaws?id=472243 Tax deduction at source obligations on interest, earthwork and transport payments do not arise where truck income was declared under presumptive taxation and, after excluding transportation receipts, no remaining turnover triggered tax-audit requirements. Consequently, expenditure disallowance for failure to deduct tax is unsustainable. Interest on property-backed borrowings used for business is not disallowable merely on an allegation of non-business diversion without concrete supporting material. Where own capital exceeds loans and advances, advances may be presumed to have been made from own funds, preventing interest disallowance. en-us Mon, 21 Apr 2025 00:00:00 +0530 Mon, 05 Oct 2026 19:38:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=472243 Tax deduction at source obligations on interest, earthwork and transport payments do not arise where truck income was declared under presumptive taxation and, after excluding transportation receipts, no remaining turnover triggered tax-audit requirements. Consequently, expenditure disallowance for failure to deduct tax is unsustainable. Interest on property-backed borrowings used for business is not disallowable merely on an allegation of non-business diversion without concrete supporting material. Where own capital exceeds loans and advances, advances may be presumed to have been made from own funds, preventing interest disallowance. Case-Laws Income Tax Mon, 21 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=472243