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Section 194A6 Section 40a5 Section 403 Section 194I2

M.K. AGRAWAL & CO.,SONEBHADRA vs. ACIT RANGE-III, MIRZAPUR

In the result, the appeal of the assessee is allowed

ITA 309/ALLD/2017[2010-11]Status: DisposedITAT Allahabad03 Dec 2020AY 2010-11

Bench: Shri Vijay Pal Raoassessment Year: 2010-11 M.K. Agrawal & Co., V. Acit, Range-Ii, Mirzapur Sonebhadra

For Appellant: Shri S. K. Jaiswal, CAFor Respondent: Shri A. K. Singh,Sr. DR

Section 194ASection 194ISection 2Section 40Section 40a

section 40a(ia) of the Act and made the disallowance of the payments after treating the payments of financial charges to be in interest. In the case of Charanjit Singh Chadha and others Vs. Sudhir Mehra (supra), the issue of nature of financial charges came up before the apex court and their Lordship of the apex court have categorically held