Dismissing the appeal of the Revenue the Court held that where assessee had deducted and deposited TDS on contractual payments under consideration before due date of filing of return of income, disallowance under section 40(a)(ia) was not warranted.(AY. 2010-11)
PCIT v. Punjab National Bank (2022) 449 ITR 468 / 288 Taxman 127 (Delhi)(HC)
S. 40(a)(ia) : Amounts not deductible-Deduction at source-TDS deposited before last date of filing return-No disallowance can be made. [S. 139(1)]