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 allowed the petition and set aside the impugned execution order. The Court held that where interest exceeds Rs.50,000 in a financial year, TDS is mandatorily deductible; here the aggregate interest was Rs.3,90,700 and each claimant's share exceeded Rs.50,000, thus the petitioner's 20% TDS deduction was lawful. The executing court erred in directing refund of Rs.78,150 to the claimants. The impugned order of the ADJ is unsustainable and is vacated. The claimants remain at liberty to pursue any refund remedy before the Income Tax Department in accordance with statutory procedure.
The HC allowed the petition and set aside the impugned execution order. The Court held that where interest exceeds Rs.50,000 in a financial year, TDS is mandatorily deductible; here the aggregate interest was Rs.3,90,700 and each claimant's share exceeded Rs.50,000, thus the petitioner's 20% TDS deduction was lawful. The executing court erred in directing refund of Rs.78,150 to the claimants. The impugned order of the ADJ is unsustainable and is vacated. The claimants remain at liberty to pursue any refund remedy before the Income Tax Department in accordance with statutory procedure.
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