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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

B) dated 25.01.1981 and submitted that CBDT has clarified that section 194A is not attracted in case the payment of installment under hire purchase agreement and consequently the provision of section 40(a)(ia) cannot be invoked for disallowance of the claim of expenditure. The ld. AR has also relied upon the decision dated 24.09.2010 of Visakhapatnam Benches of Tribunal