Statutory transfer formalities invalidated alleged share and property transfers, while retrospective record manipulation constituted oppression and mi...
Provisional attachment of laundered funds and equivalent-value property sustained, with statutory protection limited to pension, gratuity and providen...
Insolvency moratorium does not shield company officers from cheque dishonour prosecution for liability arising before corporate insolvency proceedings...
Tax deduction on transfer of agricultural land under section 194-IA does not arise unless the land falls within that provision's scope. The text states that a registered sale deed identified the property as agricultural land and no contrary material established that it was covered land; therefore, no primary TDS obligation applied. Section 206AA only increases the deduction rate where tax is otherwise deductible and PAN is not furnished; it cannot independently create a TDS liability. Consequently, section 201(1) cannot treat the purchaser as an assessee in default absent a statutory duty to deduct. The short-deduction demand and consequential interest were deleted.
Tax deduction on transfer of agricultural land under section 194-IA does not arise unless the land falls within that provision's scope. The text states that a registered sale deed identified the property as agricultural land and no contrary material established that it was covered land; therefore, no primary TDS obligation applied. Section 206AA only increases the deduction rate where tax is otherwise deductible and PAN is not furnished; it cannot independently create a TDS liability. Consequently, section 201(1) cannot treat the purchaser as an assessee in default absent a statutory duty to deduct. The short-deduction demand and consequential interest were deleted.
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