Disallowance of Expenditure u/s 40(a)(ia) of Income Tax Act for Non-Deduction of TDS restricted to 30% Considering Curative Nature of Amendment to Finance Act: ITAT [Read Order]

By Devanand T R - On June 14, 2023 1:51 pm - 3 mins read

Disallowance of Expenditure - Diallowance - Income Tax Act - Non-Deduction - TDS restricted - ITAT - TAXSCAN

The Income Tax Appellate Tribunal (ITAT), Ahmedabad bench has held that the disallowance of expenditure under Section 40(a)(ia) of the Income Tax Act, 1961 for the non-deduction of Tax Deducted at Source (TDS) shall be restricted to 30% of the expenditure considering the curative nature of Amendment to the Finance Act. The assessee, Shri Niteshkumar…

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