ITAT Upholds Disallowance made by AO on Payment of Interest Expenditure u/s. 201(1A) of Income Tax Act due to late payment of TDS [Read Order]

Disallowance made by AO - Payment of Interest - Expenditure - Income Tax - late payment of TDS - TAXSCAN

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) upheld the disallowance made by the assessing officer on payment of interest expenditure under section 201(1A) of the Income Tax Act,1961 due to late payment of Tax Deducted at Source (TDS).  Living Liquidz SM Trades LLP, the appellant assessee was a limited liability partnership (LLP)…

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