PCIT v. Shivaai Industries (P.) Ltd. (2024) 297 Taxman 372 (SC) Editorial : PCIT v. Shivaai Industries (P.) Ltd(2019) 112 taxmann.com 404 (Delhi)(HC)

S. 40(a)(ia) : Amounts not deductible-Deduction at source-Payment made to DTC-Payee had reflected the amount in its return-High Court dismissed the appeal of the Revenue-SLP of Revenue is dismissed.[Art. 136]

Assessing Officer made disallowance under section 40(a)(ia) in respect of certain payments made by assessee to DTC on which tax had not been deducted at source. Tribunal deleted the disallowance on ground that payee had reflected said amount as its tax liability in its return. High Court upheld Tribunal’s order. SLP of Revenue is dismissed. Whether instant appeal against impugned order was to be dismissed.