https://www.taxtmi.com/caselaws?id=473168 Where payees report interest income in their returns and pay the tax due, the proviso to section 201(1) prevents the payer from being deemed an assessee in default. The second proviso to section 40(a)(ia) deems tax deducted and paid on the date the payee files its return. The interest deduction is not disallowed merely because the payee files its return under section 139(1) after the payer. The extent of disallowance for insufficiently vouched travel, repair and other expenditure is considered alongside the corporate taxpayer's audited accounts. en-us Thu, 22 Sep 2022 00:00:00 +0530 Fri, 06 Nov 2026 12:12:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=473168 Where payees report interest income in their returns and pay the tax due, the proviso to section 201(1) prevents the payer from being deemed an assessee in default. The second proviso to section 40(a)(ia) deems tax deducted and paid on the date the payee files its return. The interest deduction is not disallowed merely because the payee files its return under section 139(1) after the payer. The extent of disallowance for insufficiently vouched travel, repair and other expenditure is considered alongside the corporate taxpayer's audited accounts. Case-Laws Income Tax Thu, 22 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=473168