Re: [aurangabad_ca] Section 40(a)(ia) - Disallowance due to non compliance of TDS provisions
This is very usefull decision.. please could you send us the entire judgement.
On Sun, Mar 7, 2010 at 8:42 PM, Kirit Dedhia <kiritca@yahoo.com > wrote:
ASSISTANT COMMISSIONER OF INCOME TAX vs. GRANDPRIX FAB. (P) LTD.
ITAT, DELHI
ITA No. 1208/2009
Asst. yr. 2005-06
Decided on 23rd October, 2009
Gist of decision :
Assessee was not obliged to deduct tax at source from the payments made by it to the clearing agent towards customs duty and other expenses paid by the latter while clearing the imported goods on behalf of the assessee as no element of income is embedded in reimbursement of expenses and therefore, impugned payments could not be disallowed under s. 40(a)(ia).
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AURANGABAD_CA is a Yahoo Group for the benefit of CA and other professional. It is especially meant for written discussion within group members and circulate the information among its members. The mail may contain such research/advice/opinion/information/fact provided by any member or moderator and every contain of the mail or information of yahoo is always subject to the Accuracy and of the description of facts.
The Aurangabad_CA , its moderator/owner do not claim that contains in mail/information obtained after reading as a complete and accurate disclosure of relevant fact(s).
Considering all above facts m the transaction based on above mail may not complete without confirming proper statue/authority/person. Therefore any action/transaction taken on basis of this mail do not imply the accuracy or value . Further this Group's Owner/Moderator/Member are not liable for any damages or costs suffered due to action/transaction based on information on this Yahoo Group.
For Seeking any Clarification you may mail only to Group Moderator on
girishkulk@gmail.com
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