Fair-rent assessment requires consideration of lease terms, valuation principles and prevailing market rent; the certificate was quashed for fresh rev...
Document Identification Number compliance is satisfied when electronically communicated orders are promptly authenticated through a correctly identifi...
Industrial shrimp-feed machinery classification follows its commercial function, placing integrated production plants under the specific industrial fo...
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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