2014 (12) TMI 682

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....has been preferred by the Revenue against the order dated 27th January, 2014 passed by the Income Tax Appellate Tribunal 'C' Bench, Kolkata in I.T.A. No.729/Kol/2011 for the assessment year 2007-08. Two following questions have been raised for admission by the Revenue being: I) "Whether on the facts and in the circumstances of the case the learned Tribunal was Justified in law to uphold the ....

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....enditure under the head interest in its books of account and as such disallowance under Section 40(a)(ia) was rightly made on accountly of non deduction of tax under section 194A. Ms. Das De does not press the first question for admission by reason of the judgment delivered in ITA No.282 of 2009 with WP No.412 of 2010 dated 7th February, 2014 (Birla Corporation Ltd. vs. Commissioner of Income T....

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.... come under the purview of Section 2 (28A) of the Income Tax Act 1961. The commissioner of Appeals thereafter allowed the appeal of the assessee. The Revenue preferred appeal therefrom before the Tribunal. We find that the Tribunal had agreed with the Commissioner and further went on to hold in relation to the explanation given by the Assessee as follows: "From the above explanation of th....