Assessee Not an ”Assessee in Default” u/s 201(1) of Income Tax Act in absence of Ascertainable Amount & Identifiable Payee: ITAT Rules TDS Not Applicable on Provisions for Expenses [Read Order]

By Devanand T R - On June 15, 2023 6:00 pm - 2 mins read

Income Tax Act - absence of Ascertainable Amount - Identifiable Payee - ITAT Rules TDS Not Applicable - Provisions for expenses

The Income Tax Appellate Tribunal (ITAT), Delhi Bench has held that the assessee cannot be treated as an “Assessee in Default” under Section 201(1) of the Income Tax Act, 1961 in the absence of Ascertainable Amount & Identifyable Payee. Consequently, TDS is not applicable and no interest could be levied under section 201(1A) of the…

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