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No Sec. 201 default for foreign remittances when payees paid tax: ITAT Mumbai
Case Law Details
- Case Name
- State Bank of India Vs ACIT (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2013-14
- Courts
- All ITAT, ITAT Mumbai
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State Bank of India Vs ACIT (ITAT Mumbai)
ITAT, Mumbai: SBI not ‘assessee in default’ for non-deduction of TDS on foreign remittances, as payees discharged tax liability.
Facts:
The assessee in this case was the State Bank of India (SBI), a public sector undertaking and the largest commercial bank in India. For assessment years 2013-14 to 2018-19, the Assessing Officer (AO) initiated proceedings under sections 201(1) and 201(1A) of the Income-tax Act, 1961. The allegation was that SBI had failed to deduct tax at source (TDS) on certain payments made to foreign entities.
The payments were ...
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