Governmental authority status supports construction-service exemption, while pre-cutoff contract and stamp-duty compliance requires verification on re...
Automated Free Sale and Commerce Certificates enable paperless processing while retaining risk-based manual verification for selected exporter applica...
Employee stock-shortage penalties do not constitute consideration for services, preventing GST collection under Schedule II in employment relationship...
Disallowance u/s 40(a)(ia) for late filing of Forms 15G and 15H is not justified. Even if the assessee fails to furnish the declaration forms before the concerned authority, they cannot be penalized for non-deduction of tax. Addition u/s 40(a)(ia) cannot be made when there was no requirement of deducting tax at source, once the declaration forms are submitted before the Assessing Officer u/s 197A(2). The department did not verify whether the payees declared the interest in their income tax returns. The direction of the Commissioner of Income Tax (Appeals) lacks legal foundation. The assessee's appeal is allowed.
Disallowance u/s 40(a)(ia) for late filing of Forms 15G and 15H is not justified. Even if the assessee fails to furnish the declaration forms before the concerned authority, they cannot be penalized for non-deduction of tax. Addition u/s 40(a)(ia) cannot be made when there was no requirement of deducting tax at source, once the declaration forms are submitted before the Assessing Officer u/s 197A(2). The department did not verify whether the payees declared the interest in their income tax returns. The direction of the Commissioner of Income Tax (Appeals) lacks legal foundation. The assessee's appeal is allowed.
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