“Payable” in section 40(a)(ia) covers even cases where amount is paid & not restricted to amount payable: Jharkhand HC
The Jharkhand High Court in the case of CIT v. New Punjab Motor Transport [Tax Appeal No. 26 of 2016], dated 25.04.2025 has held that the word ‘payable’ occurring in section 40(a)(ia) not only covers cases where amount is yet to be paid but also those cases where amount has actually been paid
The copy of the order is as under:
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