TNMM functional comparability requires excluding rice manufacturers from a pure Basmati rice trader's benchmark and recognising operating export recei...
Working-capital adjustment subsumes delayed-receivable effects in TNMM benchmarking of captive software-development services, avoiding separate notion...
Transfer-pricing comparability requires exclusion of financially illogical super-profit comparables and correction of unsupported annual-report and ma...
Charitable character assessment preserves Section 80G approval despite inclusive spiritual teachings and incidental religious expenditure within the s...
Penalty proceedings for cash-loan acceptance require assessment proceedings and recorded Assessing Officer satisfaction; absent these, the proceedings...
Functional comparability governs software-service benchmarking: dissimilar companies are excluded, while related-party filters, margins and working-ca...
The High Court ruled that the provisions of section 205 regarding non-deposit of Tax Deducted at Source (TDS) by the employer are applicable. The petitioner's refund was adjusted against the outstanding demand, but the court held that the department cannot deny the benefit of TDS deducted by the employer during the relevant financial years. The credit of such TDS must be given to the petitioner for the respective years. If any recovery or adjustment has been made from the refunds of later years, the same shall be returned to the petitioner with statutory interest. The decision was based on previous rulings in similar cases involving employees of Kingfisher Airlines where TDS was deducted but not deposited by the employer.
The High Court ruled that the provisions of section 205 regarding non-deposit of Tax Deducted at Source (TDS) by the employer are applicable. The petitioner's refund was adjusted against the outstanding demand, but the court held that the department cannot deny the benefit of TDS deducted by the employer during the relevant financial years. The credit of such TDS must be given to the petitioner for the respective years. If any recovery or adjustment has been made from the refunds of later years, the same shall be returned to the petitioner with statutory interest. The decision was based on previous rulings in similar cases involving employees of Kingfisher Airlines where TDS was deducted but not deposited by the employer.
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