Disallowance on account of interest on loan for non-deduction of TDS under the Income Tax Act

Last updated: 23 September 2021
Quick Summary
The Income Tax Appellate Tribunal considered a case where interest paid on a loan without deducting TDS was disallowed by the Assessing Officer. The assessee had paid over £7 million in interest to a non-banking financial company without deducting tax at source as required by Section 194A. However, the assessee later provided a certificate confirming the recipient had declared this interest income and paid their taxes.

Court :
ITAT Delhi

Brief :
This appeal is filed by the assessee for assessment year 2014-15 against the order passed by the learned Commissioner of Income Tax (Appeals)-1, Gurgaon dated 6th March 2018.

Citation :
ITA No. 4999/Del/2018

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1999
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3499
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