Bona fide disclosure requirements govern under-reporting penalties, and post-penalty immunity applications cannot secure available statutory protectio...
Certificate-of-origin verification procedure governs preferential customs benefits; denial without retroactive verification was set aside with consequ...
Disciplinary Committee jurisdiction and mandatory investigation requirements invalidated cancellation of an insolvency professional's registration and...
Retention of seized property survives where recorded reasons support proceeds of crime, while stayed investigation periods are excluded from limitatio...
TDS credit cannot be denied where the corresponding consultancy income is accepted as not taxable in India under the applicable DTAA. On the facts recorded, the assessee had explained that it was a UAE-based foreign company, that the income was exempt from Indian tax, and that tax had been wrongly deducted; the return was processed on a nil-income basis. Once the Revenue accepted that the related income was outside Indian tax charge, disallowing credit for tax deducted on that very income was contrary to law. The assessee was therefore entitled to the TDS credit under section 119 read with Rule 37BA, and the contrary view in the intimation and first appeal was unsustainable.
TDS credit cannot be denied where the corresponding consultancy income is accepted as not taxable in India under the applicable DTAA. On the facts recorded, the assessee had explained that it was a UAE-based foreign company, that the income was exempt from Indian tax, and that tax had been wrongly deducted; the return was processed on a nil-income basis. Once the Revenue accepted that the related income was outside Indian tax charge, disallowing credit for tax deducted on that very income was contrary to law. The assessee was therefore entitled to the TDS credit under section 119 read with Rule 37BA, and the contrary view in the intimation and first appeal was unsustainable.
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