Transfer pricing comparability requires functional alignment, reliable financial data, and careful review of working capital and receivables adjustmen...
Transfer pricing rules require benchmarking corporate guarantees and associated-enterprise advances, while invalid domestic-transaction adjustments ca...
Prospective sugar export prohibition required registered letters of credit; private contracts and export quotas created no enforceable continuation ri...
Retroactive interim-moratorium exclusion permits protective asset disclosure and preservation measures against personal guarantors pending arbitration...
HC allowed the writ petition challenging income tax demand notices. The court held that since tax was already deducted and deposited by the employers (Gauhati HC and Lokayukta), the Income Tax Department cannot raise demands against the petitioner. The non-reflection of TDS in Form 26AS does not negate the actual tax deduction. The department was directed to allow credit of the demanded amount and set aside the demand notices, recognizing the fundamental principle that an assessee cannot be compelled to pay tax already deducted and deposited by their employers.
HC allowed the writ petition challenging income tax demand notices. The court held that since tax was already deducted and deposited by the employers (Gauhati HC and Lokayukta), the Income Tax Department cannot raise demands against the petitioner. The non-reflection of TDS in Form 26AS does not negate the actual tax deduction. The department was directed to allow credit of the demanded amount and set aside the demand notices, recognizing the fundamental principle that an assessee cannot be compelled to pay tax already deducted and deposited by their employers.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4792
Join Channel
TaxTMI 
