Revenue neutrality in domestic related-party loans can require deletion of interest transfer pricing adjustments after domestic-transaction verificati...
Pre-enactment land-sale agreements escape stamp-duty value substitution where substantial banking-channel consideration was received before Section 43...
The ITAT held that when the principal amount of income subjected to tax deducted at source (TDS) bears an element of uncertainty and irrecoverability, the TDS deposited by the deductor and reflected in Form 26AS of the deductee is deemed to be income received by the deductee u/s 198 of the Income Tax Act. The ITAT relied on the case of Y. Rathiesh [2014 (9) TMI 2 - ANDHRA PRADESH HIGH COURT] and directed the Assessing Officer to recompute the assessed total income by treating the TDS amount reflected in Form 26AS as income from other sources for the assessee. The Revenue's ground was partly allowed.
The ITAT held that when the principal amount of income subjected to tax deducted at source (TDS) bears an element of uncertainty and irrecoverability, the TDS deposited by the deductor and reflected in Form 26AS of the deductee is deemed to be income received by the deductee u/s 198 of the Income Tax Act. The ITAT relied on the case of Y. Rathiesh [2014 (9) TMI 2 - ANDHRA PRADESH HIGH COURT] and directed the Assessing Officer to recompute the assessed total income by treating the TDS amount reflected in Form 26AS as income from other sources for the assessee. The Revenue's ground was partly allowed.
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