No Section 201 Default if TDS Non-Deduction Was Due to Court Directions: ITAT Ahmedabad

State Bank of India Vs ITO (ITAT Ahmedabad) The Ahmedabad Income Tax Appellate Tribunal (ITAT) allowed appeals filed by State Bank of India against orders passed by the CIT(A) for AY 2016-17 concerning liability under Sections 201(1) and 201(1A) of the Income Tax Act for non-deduction of tax at source on Leave Fare Concession (LFC) payments involving foreign travel. The assessee-bank had granted LFC benefits to employees and treated such payments as exempt under Section 10(5) while computing TDS under Section 192. During assessment proceedings, the Assessing Officer observed that certain emplo...