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...
The ITAT held that non-deduction of TDS on LTC reimbursement for foreign travel by the assessee's employees is not permissible. While travel within India is exempt from tax, foreign travel reimbursement is taxable. The tribunal referred to a similar case where the assessee was required to deduct tax on LTC payments to employees. The decision was made against the assessee based on legal precedents.
The ITAT held that non-deduction of TDS on LTC reimbursement for foreign travel by the assessee's employees is not permissible. While travel within India is exempt from tax, foreign travel reimbursement is taxable. The tribunal referred to a similar case where the assessee was required to deduct tax on LTC payments to employees. The decision was made against the assessee based on legal precedents.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4916 
