Undisclosed foreign asset classification requires an unexplained source; unrebutted affidavits and corroborative evidence defeated the Black Money Act...
Specialized Investment Fund distribution now requires dedicated certification, while transitional recognition preserves existing qualified distributor...
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Binding interim judicial directions on tax deduction for leave travel concession payments involving foreign travel are described as prevailing over the employer's statutory withholding obligation during their operation. Although a later Supreme Court ruling clarified that leave travel concession with a foreign leg was not exempt, the notes state that this ruling could not retrospectively impose default liability on an employer that complied with the interim directions. The employer was therefore not treated as an assessee in default, and consequential interest did not survive; demands for tax and interest were deleted.
Binding interim judicial directions on tax deduction for leave travel concession payments involving foreign travel are described as prevailing over the employer's statutory withholding obligation during their operation. Although a later Supreme Court ruling clarified that leave travel concession with a foreign leg was not exempt, the notes state that this ruling could not retrospectively impose default liability on an employer that complied with the interim directions. The employer was therefore not treated as an assessee in default, and consequential interest did not survive; demands for tax and interest were deleted.
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