Tribunal can’t set aside sec. 40(a)(i) disallowance without assigning reason for its conclusion: Karnataka HC

INCOME TAX : Where Tribunal set aside disallowance made under section 40(a)(i) for failure of assessee to deduct tax at source on sub-contract charges claimed by assessee, by merely concluding that sub-contract charges in books of account of assessee were merely journal entries recorded from books of parent company and did not assign any reasons related to nature of service, matter was to be remandedINCOME TAX : Where Tribunal set aside disallowance made under section 40(a)(i) for failure of assessee to deduct tax at source on sub-contract charges claimed by assessee, by merely concluding that sub-contract charges in books of account of assessee were merely journal entries recorded from books of parent company and did not assign any reasons related to nature of service, matter was to be remandedwww.taxmann.com Latest Case LawsRead More

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