Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
Constitutional judicial review permits challenges to ECIRs and connected money-laundering proceedings where coercive action affects fundamental intere...
Foreign leave travel concession paid to employees is taxable as salary and is not exempt. An employer-bank must deduct tax at source on those payments; this obligation is separate from recovery of tax from employees. A stay or suspension of recovery proceedings against employees does not remove the deduction obligation, which applies again once any stay is vacated. Bank branches were treated as assessees in default where tax was neither deducted nor recovered during periods without an operative stay. Interest for non-deduction is mandatory and consequential, although relief may be sought for stayed periods or where an employee has paid self-assessment tax.
Foreign leave travel concession paid to employees is taxable as salary and is not exempt. An employer-bank must deduct tax at source on those payments; this obligation is separate from recovery of tax from employees. A stay or suspension of recovery proceedings against employees does not remove the deduction obligation, which applies again once any stay is vacated. Bank branches were treated as assessees in default where tax was neither deducted nor recovered during periods without an operative stay. Interest for non-deduction is mandatory and consequential, although relief may be sought for stayed periods or where an employee has paid self-assessment tax.
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