Revenue neutrality in domestic related-party loans can require deletion of interest transfer pricing adjustments after domestic-transaction verificati...
Pre-enactment land-sale agreements escape stamp-duty value substitution where substantial banking-channel consideration was received before Section 43...
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Binding interim High Court directions treating Leave Travel Concession reimbursements as non-income for TDS purposes prevented bank branches from being treated as assessees in default for non-deduction on reimbursements involving foreign travel. Section 201 liability arises only where tax was not deducted despite a subsisting legal obligation. Compliance with operative interim directions eclipsed that obligation for the relevant period, even though employees remained liable if the writ petition failed. A subsequent merits decision on the exemption issue could not retrospectively impose default liability. Consequently, demands for default and related interest were set aside.
Binding interim High Court directions treating Leave Travel Concession reimbursements as non-income for TDS purposes prevented bank branches from being treated as assessees in default for non-deduction on reimbursements involving foreign travel. Section 201 liability arises only where tax was not deducted despite a subsisting legal obligation. Compliance with operative interim directions eclipsed that obligation for the relevant period, even though employees remained liable if the writ petition failed. A subsequent merits decision on the exemption issue could not retrospectively impose default liability. Consequently, demands for default and related interest were set aside.
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