Proportionate interest, unexplained credits and partner remuneration disputed; proofs of fund nexus and lender identity were decisive and disallowance...
Capital gains valuation from stamp assessment versus net consideration for residential reinvestment: deemed stamp value replaced for gains but not for...
Certificate for withholding tax was set aside because the competent authority failed to consider the petitioner's submissions and relied on an AAR decision subsequently overruled by a High Court; accordingly the impugned order and certificate are quashed. The court directed issuance of a withholding tax certificate at 2% (parity with the equalization levy) as an interim measure for the relevant assessment year, to be issued within 15 days. The direction applies only to the specified year; pending appeals before the Tribunal may affect future years and the competent authority must decide subsequent applications in accordance with law.
Certificate for withholding tax was set aside because the competent authority failed to consider the petitioner's submissions and relied on an AAR decision subsequently overruled by a High Court; accordingly the impugned order and certificate are quashed. The court directed issuance of a withholding tax certificate at 2% (parity with the equalization levy) as an interim measure for the relevant assessment year, to be issued within 15 days. The direction applies only to the specified year; pending appeals before the Tribunal may affect future years and the competent authority must decide subsequent applications in accordance with law.
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