The Bombay High Court has held that short deduction of tax at source (TDS) cannot trigger disallowance under Section 40(a)(ia) of the Income-tax Act, 1961, thereby dismissing the Revenue’s appeal against Media Worldwide Ltd. The Bench OF Justice B.P. Colabawalla and Justice Firdosh P. Pooniwalla upheld the orders of the Commissioner (Appeals) and the Income…
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