Assessee, engaged in business of cloth merchant, claimed interest expenditure on unsecured loans. Assessing Officer disallowed same under section 40(a)(ia) on ground that assessee had not furnished Form 15G/15H. Assessee contended that it had furnished said forms. The issue was remanded back to Assessing Officer for limited purpose of verification of Form 15G/15H. (AY.2012-13)
Suresh Kishinchand Changwani v. Dy. CIT (2025) 210 ITD 669 (Mum.) (Trib.)
S. 40(a)(ia): Amounts not deductible-Deduction at source-Interest, etc., paid to a resident without deduction of tax at source-Non-furnishing of Form 15G/15H-Form filed before the Tribunal-Matter remanded to the Assessing Officer for limited purpose of verification. [Form 15G, 15H]
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