Appeal allowed; impugned order quashed as regulator failed to prove nexus or manipulative scheme; sale genuine - s.12A(a)-(c), Regs 3(a)-(d),4(1),4(2)...
Appellant's ring-back tone service held OIDAR, taxable domestically for 01.07.2012-31.07.2016; liability confirmed, penalties vacated, remanded for re...
ITAT allowed the assessee's appeal, holding that a person governed by the Portuguese Civil Code, 1860 and falling under s.5A of the Income-tax Act is not subject to Rule 37BA for allocation of TDS credit. Since the TDS of Rs. 10,36,269 on income (other than salary) was deducted and reflected in the assessee's name and PAN, full tax credit must be granted to the assessee, notwithstanding the community property regime and apportionment of income between spouses. The AO was directed to allow the entire TDS credit as claimed in the return.
ITAT allowed the assessee's appeal, holding that a person governed by the Portuguese Civil Code, 1860 and falling under s.5A of the Income-tax Act is not subject to Rule 37BA for allocation of TDS credit. Since the TDS of Rs. 10,36,269 on income (other than salary) was deducted and reflected in the assessee's name and PAN, full tax credit must be granted to the assessee, notwithstanding the community property regime and apportionment of income between spouses. The AO was directed to allow the entire TDS credit as claimed in the return.
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