Joint development agreements defer taxable transfer where possession lacks part performance, while completed flats determine consideration and exempti...
Passenger baggage re-export requires true declaration and cannot be granted indirectly through discretionary redemption of undeclared prohibited goods...
Denial of TDS credit - Credit deferred to next year - To rest the adjudication, it suffice to voice that, the combined reading of Section 199(3) r.w. Rule 37BA(3) makes the position of law clear that, credit for TDS is available in the year in which the income is reported and as a corollary, credit of TDS (deducted therefrom) cannot be deferred to some other assessment year. In the instant case, the Revenue proposed to allow the credit in the subsequent AY 2021-22 i.e. when the TDS is shown to have been credited in the form 26AS. - Credit allowed - AT
Denial of TDS credit - Credit deferred to next year - To rest the adjudication, it suffice to voice that, the combined reading of Section 199(3) r.w. Rule 37BA(3) makes the position of law clear that, credit for TDS is available in the year in which the income is reported and as a corollary, credit of TDS (deducted therefrom) cannot be deferred to some other assessment year. In the instant case, the Revenue proposed to allow the credit in the subsequent AY 2021-22 i.e. when the TDS is shown to have been credited in the form 26AS. - Credit allowed - AT
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