Interest Payments to Trust Not Disallowed u/s 40(a)(ia) Due to Trust's Income Filing.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Disallowance u/s 40(a)(ia) - interest payment made to trust, who claimed exemption u/s 10(23C)(vi) - once the recipient had filed the returns of income by including the interest received from the assessee, it satisfied the requirement of not to treat the assessee in default for the purpose of section 201(1) therefore, there is no case for making the addition....