No TDS Default for Following High Court Order: ITAT Agra

State Bank of India Vs CIT (Appeals) (ITAT Agra) The appeal before the Income Tax Appellate Tribunal, Agra Bench, concerned Assessment Year 2016-17 and challenged the demand raised against the assessee under Sections 201(1) and 201(1A) of the Income-tax Act for failure to deduct tax at source on Leave Fare Concession (LFC) reimbursements involving foreign travel. The Assessing Officer found that the assessee-bank had reimbursed LFC claims amounting to Rs.7.06 lakh to two employees without deducting tax at source. According to the Assessing Officer, the payments were not eligible for exemption ...