Export obligation removed by notification, customs duty demand invalidated; penalties under s.112 and s.114AA quashed due to inadmissible s.108 statem...
Customs officers must wear and use department-issued body-worn cameras when clearing passenger baggage, with daily secure transfer and 30-day retentio...
Page of 4828
Press 'Enter' after typing page number.
10041 to 10060 of 96556 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
The ITAT held that, pursuant to s.199(3) read with r.37BA, TDS credit must be granted to the person on whose payment the tax was deducted where the deduction is reflected in Form 26AS; consequently the appellant, being the agent who had payments reflected in Form 26AS, is entitled to credit of the full TDS so reflected. The tribunal further held that the r.37BA(2) declaration mechanism is directory not mandatory, and commercial exigencies justified non-issuance of declarations to the foreign principal. In absence of any Revenue contention on understatement of income or audit qualification, the balance TDS credit claimed by the appellant was allowed.
The ITAT held that, pursuant to s.199(3) read with r.37BA, TDS credit must be granted to the person on whose payment the tax was deducted where the deduction is reflected in Form 26AS; consequently the appellant, being the agent who had payments reflected in Form 26AS, is entitled to credit of the full TDS so reflected. The tribunal further held that the r.37BA(2) declaration mechanism is directory not mandatory, and commercial exigencies justified non-issuance of declarations to the foreign principal. In absence of any Revenue contention on understatement of income or audit qualification, the balance TDS credit claimed by the appellant was allowed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
