Held that the obligation under section 194A of the Act stood discharged for the purposes of section 40(a)(ia) of the Act where the prescribed form was furnished by the payee to the assessee. The disallowance under section 40(a)(ia) of the Act was not justified. (AY.2012-13)
B. Nanji A. v. ITO (2021)88 ITR 29 (SN) (Ahd.)(Trib.)
S. 40(a)(ia) : Amounts not deductible-Deduction at source-Interest on deposits-Tax not deducted-Declaration was furnished by depositors-Disallowance was deleted. [S. 194A, 197A(1), Form No. 15G]