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...
The ITAT, an Appellate Tribunal, considered a case involving the revision u/s 263 for non-deduction of tax at source on salary and commission payments. The CIT argued that the AO did not disallow u/s 40(a)(ia). The ITAT held that if the recipient of income has declared and paid taxes on income where no TDS was deducted, the assessee is not in default per Second Proviso to Section 40(a)(ia). The ITAT found that the recipient had declared and paid taxes on salary and commission income. The ITAT disagreed with the PCIT's failure to consider these facts during the 263 proceedings. The ITAT allowed the appeal, stating that TDS on commission should be disallowed and added to the assessee's income for the relevant assessment year.
The ITAT, an Appellate Tribunal, considered a case involving the revision u/s 263 for non-deduction of tax at source on salary and commission payments. The CIT argued that the AO did not disallow u/s 40(a)(ia). The ITAT held that if the recipient of income has declared and paid taxes on income where no TDS was deducted, the assessee is not in default per Second Proviso to Section 40(a)(ia). The ITAT found that the recipient had declared and paid taxes on salary and commission income. The ITAT disagreed with the PCIT's failure to consider these facts during the 263 proceedings. The ITAT allowed the appeal, stating that TDS on commission should be disallowed and added to the assessee's income for the relevant assessment year.
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