Merchant banker regulation consolidates registration, governance, capital, reporting, outsourcing and investor-protection requirements under an update...
Authentication of paper assessment orders upheld, while qualifying repairs, consumables and vendor advance write-offs remain deductible business claim...
Section 194H was treated as inapplicable to prepaid distributor discounts, the controversy having already been covered by the Supreme Court decision cited in the text. On that basis, and noting that the refund application had been made and the revenue itself accepted that refund was due, the Court directed immediate release of the TDS refund. The department's plea that an outstanding demand under the TAN should be adjusted against the refund was left open for separate pursuit, and the petitioner was left free to contest any such demand in accordance with law. The refund was ordered to be released forthwith, without prejudice to either side's rights on the separate demand.
Section 194H was treated as inapplicable to prepaid distributor discounts, the controversy having already been covered by the Supreme Court decision cited in the text. On that basis, and noting that the refund application had been made and the revenue itself accepted that refund was due, the Court directed immediate release of the TDS refund. The department's plea that an outstanding demand under the TAN should be adjusted against the refund was left open for separate pursuit, and the petitioner was left free to contest any such demand in accordance with law. The refund was ordered to be released forthwith, without prejudice to either side's rights on the separate demand.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
