Transfer-pricing treatment of ITeS margins excludes pass-through tax recoveries and separate delayed-receivables interest after working-capital adjust...
Capacity-utilisation adjustments under TNMM can neutralise substantiated COVID-related idle costs where underutilisation materially affects profitabil...
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...
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The HC upheld the bank's obligation to deduct TDS under Section 194N on government subsidy payments made to the petitioners. The court determined that the bank must comply with mandatory tax deduction requirements regardless of the source of funds being government subsidies. While acknowledging that petitioners could receive refunds after assessment if no tax was ultimately payable, the court emphasized that Section 194N creates a mandatory obligation that cannot be circumvented. The HC referenced its previous ruling in a similar case which established that Section 194N mandates 2% deduction on cash withdrawals to promote a cashless economy, and notably cannot be avoided through the lower/nil deduction mechanism available under Section 197 for other provisions.
The HC upheld the bank's obligation to deduct TDS under Section 194N on government subsidy payments made to the petitioners. The court determined that the bank must comply with mandatory tax deduction requirements regardless of the source of funds being government subsidies. While acknowledging that petitioners could receive refunds after assessment if no tax was ultimately payable, the court emphasized that Section 194N creates a mandatory obligation that cannot be circumvented. The HC referenced its previous ruling in a similar case which established that Section 194N mandates 2% deduction on cash withdrawals to promote a cashless economy, and notably cannot be avoided through the lower/nil deduction mechanism available under Section 197 for other provisions.
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