Transfer pricing requires evidence for AMP transactions, functionally reliable comparables, and appropriate aggregation or Berry Ratio benchmarking me...
Revisionary jurisdiction cannot reopen share capital assessments where adequate inquiry supports a permissible view and no independent error is establ...
Reassessment jurisdiction fails where unverified portal information is aggregated without examining the taxpayer's explanation or relevance of entries...
Statutory sanction for delayed reassessment requires approval from the prescribed authority; approval by an inferior authority invalidates jurisdictio...
Transfer pricing margin adjustments require matching treatment of non-operating income and related costs, with comparability issues reconsidered on ev...
Preliminary-expense amortisation and MAT exempt-income adjustments prevailed, while trademark costs and managerial remuneration require fresh verifica...
Export valuation requires contemporaneous evidence; unrelated invoices cannot prove overvaluation, and dual penalties on firm and partner are impermis...
The High Court held that the Income Tax Department cannot demand TDS amounts from employees when such amounts have been deducted from their salaries by the employer but not deposited with the government. Section 205 of the Income Tax Act bars raising demand against assessees to the extent tax has been deducted from their income. The object is that when the obligation to deposit tax lies with the employer, the liability cannot be shifted to the employee who is the beneficiary of the payment. Issuing demand notices against the employees for the TDS amounts not deposited by the employer is impermissible and violates Section 205. The writ petition was allowed.
The High Court held that the Income Tax Department cannot demand TDS amounts from employees when such amounts have been deducted from their salaries by the employer but not deposited with the government. Section 205 of the Income Tax Act bars raising demand against assessees to the extent tax has been deducted from their income. The object is that when the obligation to deposit tax lies with the employer, the liability cannot be shifted to the employee who is the beneficiary of the payment. Issuing demand notices against the employees for the TDS amounts not deposited by the employer is impermissible and violates Section 205. The writ petition was allowed.
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