S. 40(a) (ia): Amounts not deductible-Deduction at source–Interest-No disallowance can be made merely on the ground of non-filing of Form 15H / 15G to Commissioner as prescribed in Rule 29C. [Rule 29C]

Karwat Steel Traders v.ITO (2013) BCAJ –August –P. 35 (Mum.)(Trib.)

The Assessing Officer disallowed interest paid to various parties on the ground that the assessee had not filed Form 15H/15G to Commissioner as prescribed under Rule 29C, which was confirmed by Commissioner (Appeals) .On appeal Tribunal held that No disallowance can be made merely on the ground of non-filing of Form 15H/15G to Commissioner as prescribed in Rule 29C.Tribunal relied on Vipin P.Mehta v.ITO (2011) (11 taxman .com 342 (Mum.) (Trib.) (A.Y. 2008-09)(ITA no 6822/Mum/2011 dt 10-07-2013)    

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