Income Tax : The law places the responsibility of TDS deduction on the buyer, not the seller. Failure to comply can lead to penalties, interest...
Income Tax : The court held that tax authorities cannot rely on earlier findings already set aside by appellate bodies. Each Section 197 applic...
Income Tax : An overview o the Lower Deduction Certificate (LDC) under Section 197. Learn who can apply, the benefits for cash flow, and the on...
Income Tax : Learn how to apply for a Lower TDS Deduction Certificate under Section 197. Understand the step-by-step process, required document...
Income Tax : Learn about Section 197 of the Income Tax Act, which allows for certificates for deduction at a lower rate. Explore eligibility, a...
Income Tax : Budget 2024 extends the scope for lower deduction/collection certificates under Sections 197 and 206C, effective from October 2024...
Income Tax : The ITAT Delhi held that undisclosed income declared under IDS-2016 but unpaid within prescribed time must be taxed in the year of...
Income Tax : The case examined whether a lower TDS certificate applies prospectively or for the full year. The Court held it applies to the ent...
Income Tax : Bombay High Court held that application for NIL withholding tax certificate rightly rejected since matter of taxability of fees fo...
Corporate Law : Supreme Court held that initiation of administrative proceedings for disciplinary action against air force pilot not justifiable s...
Income Tax : The Court held that rejection of a lower withholding certificate without reasons violates Rule 28AA. It remanded the matter for fr...
Income Tax : Finance Ministry exempts ICRISAT from TDS under Section 197A(1F) of Income Tax Act, effective from publication date. Exemption ali...
Income Tax : Get details on new Income Tax Notification exempting specific payments to International Financial Services Centre (IFSC) Units fro...
The Court held that Section 197 applications cannot be rejected mechanically to “protect revenue.” Mandatory factors under Rule 28AA, including past assessments and liabilities, must be examined before directing withholding.
The Court set aside a 3.5% TDS certificate after the PE finding relied upon by the Revenue was overturned by the ITAT. The earlier 1.5% rate was restored due to lack of legal foundation.
The dispute concerned cancellation of IDS benefits due to non-payment. The Tribunal held that once IDS lapses, undisclosed income is taxable with mandatory penalty.
The Delhi High Court held that a withholding tax certificate cannot stand once the ITAT sets aside the finding of a dependent agent PE. Since the Revenue relied solely on quashed assessment orders, the 8.75% TDS was invalid.
The Supreme Court held that an FIR based on previously closed complaints and filed without mandatory sanction is an abuse of process and must be quashed.
Tribunal holds that Section 28 interest forms part of compensation for compulsory acquisition and cannot be taxed as income from other sources. Confirms exemption under Section 10(37).
ITAT Delhi held that DRP is a quasi-judicial authority and is required to issue directions on all the objections raised by assessee. Failure to adjudicate certain components results into violation of principles of natural justice. Accordingly, matter set aside to file of DRP.
Tribunal holds that when unlisted shares are sold above the prescribed fair market value, Section 50CA does not apply. The ruling rejects reclassification of part of the consideration as income from other sources.
Tribunal held that rent expense differences cannot be taxed as unexplained expenditure without questioning the source. Matter remanded for verification of reconciliation and evidence.
The Bombay High Court quashed the AAR’s ruling that denied Mauritius DTAA benefits to Bid Services Division (Mauritius) Limited. The Court held that the petitioner was entitled to treaty protection on capital gains from the sale of MIAL shares. It ruled that legitimate corporate structures cannot be disregarded merely for resulting in tax advantages.
