Friday 28 August 2015

TDS default on capital exp. won't attract disallowance

IT/ILT : Where assessee made payment to a non-resident for purchase of software which had been capitalized in block of asset, in such a case, even though assessee did not deduct tax at source on such payment, still section 40(a)(i) could not be invoked for disallowance of depreciation on amount so capitalized

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