Disallowance u/s 40(a)(ia) is not applicable When the Recipient has included Receipt in their Income: ITAT [Read Order]

By Taxscan Team - On May 30, 2022 2:21 pm - 2 mins read
Disallowance - recipient - receipt - Income - ITAT - Taxscan

The Chennai bench of the Income Tax Appellate Tribunal (ITAT) has held that the disallowance u/s 40 (a) (ia) of the Income Tax Act is not applicable when the recipient included the receipt in their income. Shri S. Sridhar appeared on behalf of the assessee and Shri G. Johnson appeared on behalf of the revenue….

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