Minimum Public Offer Requirements set tiered issuer-based allotment minima with mandatory staged public shareholding increases and exchange enforcemen...
Disallowance under tax law for investment expenses cannot be applied mechanically; authority must record clear reasons before increasing assessee's su...
Characterisation of payments under Annual Maintenance Contracts for computers, DG sets, elevators and telecommunication services was determinative for TDS treatment. The tribunal found that routine periodic repair and upkeep under AMCs constitute payment for work/maintenance (works contract) and thus attract TDS accordingly; such payments do not qualify as managerial, professional or fees for technical services. Consequently, the assessee was not chargeable as an assessee in default and the demand under default provisions was set aside, with the assessing officer directed to delete the addition.
Characterisation of payments under Annual Maintenance Contracts for computers, DG sets, elevators and telecommunication services was determinative for TDS treatment. The tribunal found that routine periodic repair and upkeep under AMCs constitute payment for work/maintenance (works contract) and thus attract TDS accordingly; such payments do not qualify as managerial, professional or fees for technical services. Consequently, the assessee was not chargeable as an assessee in default and the demand under default provisions was set aside, with the assessing officer directed to delete the addition.
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