S. 40(a)(ia): Despite stay by High Court, Special Bench verdict In Merilyn Shipping is binding on the ITAT due to judicial discipline

CIT vs. Janapriya Engineers Syndicate (Andhra Pradesh High Court)

The Tribunal had to consider whether in view of the Special Bench verdict in Merilyn Shipping & Transport 146 TTJ 1 (Vizag), a disallowance u/s 40(a)(ia) could be made in respect of the amounts that have already been paid during the year and are not “payable” as of 31st March. The Tribunal held that as […]