Internal CUP benchmarking for fixed-rate Masala Bonds prevails over floating external comparables, eliminating the related transfer-pricing adjustment...
Jurisdictional validity of revision notices: incorrect official capacity and mere change of opinion invalidate revision of property income assessments...
Bogus-purchase additions are limited to embedded profit where corresponding sales are accepted, while accommodation-entry information can support reas...
TDS credit for rental income remains available where the tenant has actually deducted tax but fails to deposit it with the Central Government. Actual deduction triggers statutory protection against a direct tax demand on the income recipient; the deductor's deposit default cannot undermine the recipient's income declaration or justify withholding credit. Recovery of the unpaid tax must be pursued against the tenant-deductor. Credit for tax deducted from rental income was therefore directed to be granted, and the appeal was allowed.
TDS credit for rental income remains available where the tenant has actually deducted tax but fails to deposit it with the Central Government. Actual deduction triggers statutory protection against a direct tax demand on the income recipient; the deductor's deposit default cannot undermine the recipient's income declaration or justify withholding credit. Recovery of the unpaid tax must be pursued against the tenant-deductor. Credit for tax deducted from rental income was therefore directed to be granted, and the appeal was allowed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4884 
