Dismissing the appeal of the revenue the Court held that applicability of the second proviso of Section 40(a)(ia) of the Act to the Assessment Year 2010-11. This issue is also covered against the Revenue vide decision of this court in Ansal Land Mark Township (P.) Ltd. v. CIT (2015) 377 ITR 635 (Delhi)(HC). (AY. 2010-11)
PCIT v. Noida Software Technology Park Ltd. (2020) 113 taxmann.com 144 (Delhi)(HC) Editorial : SLP is granted to the revenue PCIT v. Noida Software Technology Park Ltd (2020) 269 Taxman 10 (SC)
S. 40(a)(ia) : Amounts not deductible-Deduction at source-Interest paid without deduction of tax at source –Second proviso is held to be applicable.