Deduction of TDS and deposit in Form 16-A under Section 194-A of Income Tax Act proves the deduction was TDS relating to ‘Interest other than interest on securities’: NCLAT observes
In the instant matter an appeal was preferred against the order of NCLT admitting S. 7 IBC application or repayment of financial debt. Upholding the order of the NCLT, the Tribunal held that even if there is no proof of loan agreement other materials on record can prove the financial debt.