Section 80P deduction covers Souharda credit societies, including qualifying surplus-deposit interest, subject to member KYC verification for cash dep...
Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
Pre-existing operational debt disputes require genuine evidence, while undirected running-account payments may be appropriated on a first-in-first-out...
Agency in CNG distribution makes outlet operators commission agents, rendering taxable Business Auxiliary Service rather than purchasing goods for res...
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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