Bona fide belief of non-deduction of TDS vis-à-vis default u/s 201(1) and 201(1A) needs re-adjudication

State Bank of India Corporate Centre Vs CIT(A) (ITAT Mumbai) ITAT Mumbai remanded the matter for adjudication of bona fide belief of TDS exemption in case of LTC relating to foreign travel vis-à-vis default u/s 201(1) and 201(1A) of the Income Tax Act. Facts- The assessee bank was allowing tax exemption on leave fare concession (LFC)/ leave travel concession (LTC) reimbursement where the employees have taken circuitous route in which foreign leg was included. It was also observed that the assessee has not included the LTC/LFC amount to the salary of the employees as perquisite and has also no...