Relief to Mahindra and Mahindra: ITAT directs AO to delete Disallowance made u/s 40(a)(ia) of Income Tax Act [Read Order]

Relief - to - Mahindra - and - Mahindra - ITAT - directs - AO - to - delete - disallowance - Income - Tax - Act - TAXSCAN

In a major relief to Mahindra & Mahindra Ltd, the appellant, the Mumbai Bench of the Income Tax Appellate Tribunal (ITAT), directed the Assessing Officer (AO) to delete disallowance made under Section 40(a)(ia) of the Income Tax Act, 1961. During the course of assessment proceedings, it was observed that the assessee is not deducting the…

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