Opportunity to furnish unsecured-loan confirmations is required before reassessment initiation; proceedings require fresh consideration after taxpayer...
Under-reporting on a first reassessment return attracts penalty, while enhanced misreporting penalty requires proof of a statutory misreporting catego...
TDS u/s 194I or 194C - storage charges paid by assessee - TDS @ 20% - The ITAT concluded that assessee is liable to deduct Tax at Source u/s 194C - The High court determined that the storage tanks in question did not qualify as land or building under Section 194I of the Act. It concluded that the payments made by the assessee were not subject to tax deduction at source under Section 194I. - The court upheld the decision of the ITAT, disposing of the appeals in favor of the assessee.
TDS u/s 194I or 194C - storage charges paid by assessee - TDS @ 20% - The ITAT concluded that assessee is liable to deduct Tax at Source u/s 194C - The High court determined that the storage tanks in question did not qualify as land or building under Section 194I of the Act. It concluded that the payments made by the assessee were not subject to tax deduction at source under Section 194I. - The court upheld the decision of the ITAT, disposing of the appeals in favor of the assessee.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4918 
