Benami transaction and beneficial ownership: documentary and circumstantial evidence show payors were true beneficiaries, resulting in PBPTA consequen...
Denial of Preferential Treatment under SAFTA overturned where unchallenged Country of Origin certificate warranted exemption under Notification benefi...
Continuing offence of money-laundering: discharge set aside and proceedings reinstated where laundering continued after inclusion of predicate offence...
Where tax on payments has been recovered from the recipient, the payer is not liable as an assessee in default for non-deduction of tax at source; accordingly no penalty under the default provision can be fastened if the recipient has paid the tax. However, interest for failure to deduct remains payable by the payer from the date tax was deductible until the recipient furnishes its return. The assessing officer is directed to verify recipient details, tax payments and return filing; if verification confirms payment by the recipient, the additions shall be deleted.
Where tax on payments has been recovered from the recipient, the payer is not liable as an assessee in default for non-deduction of tax at source; accordingly no penalty under the default provision can be fastened if the recipient has paid the tax. However, interest for failure to deduct remains payable by the payer from the date tax was deductible until the recipient furnishes its return. The assessing officer is directed to verify recipient details, tax payments and return filing; if verification confirms payment by the recipient, the additions shall be deleted.
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