Functional comparability governs selection of support-service and IT-enabled service comparables, with verification required for unresolved data and m...
Bank account freezing requires statutory authority; anti-money-laundering compliance and KYC monitoring do not permit unilateral indefinite restrictio...
Penalty u/s 271C - non deducting tax at source from the payment towards LTC consisting of foreign travel - for the first time, after the survey by the tax departments this issue arose for consideration and after the judgment of the Tribunal, the matter got clarified and the assessee bank has duly complied and deposited the outstanding demand along with interest and has taken corrective steps in subsequent years as well. - No penalty since there was reasonable cause u/s 273B.
Penalty u/s 271C - non deducting tax at source from the payment towards LTC consisting of foreign travel - for the first time, after the survey by the tax departments this issue arose for consideration and after the judgment of the Tribunal, the matter got clarified and the assessee bank has duly complied and deposited the outstanding demand along with interest and has taken corrective steps in subsequent years as well. - No penalty since there was reasonable cause u/s 273B.
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