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‘Palam Gas Service’ ruling requires no review; SC upholds TDS disallowance not confined to sum ‘payable’ only

July 30, 2020[2020] 118 47 (SC)

INCOME TAX: Where assessee had entered into a contract with a cement factory to transport cement and for that assessee hired services of truck owners as sub-contractors, assessee would be liable to deduct tax at source under section 194C from payments made to truck owners

INCOME TAX: Disallowance under section 40(a)(ia) is not limited only to amount outstanding and this provision equally applies in relation to expenses that had already been incurred and paid by assessee

INCOME TAX: Disallowance under section 40(a)(ia) as introduced by Finance (No.2) Act, 2004 with effect from 1-4-2005 is applicable to and from assessment year 2005-06
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