Pankaj Enterprises. v. DCIT (2025) 214 ITD 702 (Mum) (Trib.)

S. 40(a)(ia): Amounts not deductible-Deduction at source-Pre-EMI interest-Recipient had paid due tax-Matter remanded.

Assessee submitted that the recipient had paid due tax and, therefore, pre-EMI interest paid by assessee should be allowed but could not place on record any documents fulfilling the requirement of the provision of the Act in this regard. Tribunal remanded the matter to the Assessing Officer for verification.(AY. 2014-15)

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