Specified income of Baddi Barotiwala Nalagarh Development Authority receives conditional tax exemption, retrospectively covering its designated assess...
Specified development authority income receives retrospective tax exemption, subject to non-commercial activity, unchanged income sources, and return-...
Unified Brand India framework introduces voluntary Trust Mark certification and funding support for export branding, packaging and global promotional ...
Origin Declaration authentication governs preferential tariff claims under India-UK CETA, requiring a validated reference number before import clearan...
Separate assessment orders for different years remain valid when distinct notices and hearing opportunities prevent prejudice from combined proceeding...
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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