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RU
ITAT Mumbai Deletes Section 40(a)(ia) Disallowance as Payments Were Capitalised as WIP
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The Tribunal further recorded that the amounts paid to M/s Studio Mumbai Architecture & Design Pvt.
Assessing Officer, invoked Section 40(a)(ia) of Act and disallowed the amounts paid to certain parties.
Hence, there is no deduction of the amounts paid within the ambit of sections 30 to 38.
The amounts paid to the two parties M/s Studio Mumbai Architecture & Design Pvt.
Besides, the amounts paid to them have been disclosed by them in their financial statements and have been offered for tax.