Online bond platforms may offer overseas-regulated products and tax-specific bonds subject to disclosures, compliance safeguards and revised complianc...
Corporate guarantee valuation permits actual ascertainable commission while barring retroactive application and extended-period penalties for bona fid...
Proper-officer jurisdiction under UPGST penalty provisions upheld; participation on merits prevents bypassing the statutory appellate remedy through w...
Transitioned CENVAT credit may validly satisfy mandatory pre-deposit requirements for legacy service tax appeals through Electronic Credit Ledger debi...
Building-plan sanction charges require statutory authority; unauthorised fees and GST were quashed, while labour cess must follow prescribed collectio...
Pure-agent exclusion fails where hotel booking facilitators receive third-party services themselves, making entire customer consideration taxable as r...
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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