Case Law Details
Case Name : Apeejay Tea Ltd. Anr. Vs Union of India & Ors. (Calcutta High Court)
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Apeejay Tea Ltd. Anr. Vs Union of India & Ors. (Calcutta High Court)
Calcutta High Court passes landmark interim order in petition challenging constitutional validity of section 194N of the Income Tax Act, 1961 which mandates the deduction of tax at source at the rate of 2% on cash withdrawals from banking company . Petitioner submits that Section 194N of the said Act is beyond the legislative competence of the Parliament and Entry 82 of List I of Schedule VII to the Constitution allows the Parliament to enact laws for and levy of tax on “income” and the Parliament cannot legislate a...
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Dear Sir/Madam, I am not able to find cited case law anywhere. Can some one share the below case law link
Kanan Devan Hills Plantations Company Pvt. Ltd Versus Union of India in WP (C ) No. 1658 of 2020Kanan Devan Hills Plantations Company Pvt. Ltd Versus Union of India in WP (C ) No. 1658 of 2020
Like wise Bank of Baroda, had also illegally, arbitrarily and whimsically deducted TDS @10℅ for an amount if Rs. 45,470.70 for the financial year,2020-2021,upon my entire amount of gross interest income paid by them upon my FDR A/C with them for an amount of Rs. 5,80,570/ -,( where exemption limits for IT for a Senior Citizens was for Rs. 5,00,000/- ) an ex-officer of the same bank, and where actual Income tax, payable by me for the financial year, 2020-2021, was only for Rs. 8,770/-only,U/S 140A and U/S 288B of I. T. Act. A refundable amount for the assessment year, 2021- 2022 was for Rs. 36,637/-, which was a interest free loan to the Government of India, from us illegally, arbitrarily and whimsically deducted as TDS by Bank of Baroda, without any valid reason or basic at all. Till date IT return could not be filled due to extension of unreasonable time period by the Government to submit Form-16 and Form-16A,to the Banks and God knows, when Refund of Excessively deducted TDS will be done, as the Refund of TDS dues for the Assessment year, 2020-2021, had not yet been received, upon a false and baseless pleas of Income tax department, that Hard copy of Income tax returns for the Assessment year, 2020.2021,not yet received by them for due process of Refund Orders.
It will be an interrsting case and we look forward to see a positive outcome. We are liable to TDS at source u/s 194N in respect of withdrawal of money from our own account exceeding the prescribed limit. After all, withdrawal from our own account is not an income which can be taxed under the Income Tax Act.
Thnak God someone has taken up a case of taxing what is not an income. Who knows someday the Government may enact a TDS of % on Savings Bank Account however small it may be which the account holder can get a refund by filing an ITR. It is an interest free loan to the Government