[aaykarbhavan] Tax deduction under wrong provision due to bona-fide belief won’t attract sec. 40(a)(ia) disallowance

Tax deduction under wrong provision due to bona-fide belief won't attract sec. 40(a)(ia) disallowance

October 7, 2014[2014] 49 taxmann.com 187 (Mumbai - Trib.)/[2014] 30 ITR(T) 475 (Mumbai - Trib.)

IT : Where tax was deducted by assessee, even if same was under wrong provisions, section 40(a)(ia) cannot be invoked to disallow same

IT : Paintings used in office or given on hire for Ad film shooting would be part of furniture and fixtures eligible for depreciation

 

Regards

Prarthana Jalan

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Posted by: Prarthana Jalan <prarthanajalan@ymail.com>

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