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![Section 40(a)(ia) of Income Tax Act applies to both ‘Payable’ and ‘Paid’ Expenditures: SC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2016/08/Supreme-Court-of-India-Taxscan.jpg "Section 40(a)(ia) of Income Tax Act applies to both ‘Payable’ and ‘Paid’ Expenditures: SC [Read Judgment]")
Section 40(a)(ia) of Income Tax Act applies to both ‘Payable’ and ‘Paid’ Expenditures: SC [Read Judgment]
SC Overruled the decision of the Allahabad High Court in CIT v. Vector Shipping Services (P) Ltd. In Palam Gas Service v. CIT, the two-judge...