Customs valuation must use comparable contemporary imports, while confiscation fines and penalties require proportionate recalculation on reassessed v...
Depositor-protection proceedings prevail over corporate insolvency, while liquidators may recover chit receivables using copies of seized company reco...
Intermediary service classification fails where overseas admission facilitation is supplied independently, preserving export treatment and small-provi...
Satellite transponder bandwidth is telecommunication, not Business Support Service; foreign non-telegraph providers triggered no service tax liability...
Commitment proceedings gain extended timelines, structured defect refiling, and automatic resumption of inquiry after the adjusted completion period e...
Section 194-IA did not require aggregation of consideration attributable to multiple co-owners for the year in question, and the Finance Act, 2024 amendment was prospective and inapplicable. Because the amount relatable to each co-owner was below the statutory threshold, the purchaser had no obligation to deduct tax at source under section 194-IA. As no TDS default survived, the assessee could not be treated as an assessee in default under section 201(1), and the consequential interest under section 201(1A) was also unsustainable. The Tribunal followed coordinate bench rulings on the same issue and deleted the demand and interest.
Section 194-IA did not require aggregation of consideration attributable to multiple co-owners for the year in question, and the Finance Act, 2024 amendment was prospective and inapplicable. Because the amount relatable to each co-owner was below the statutory threshold, the purchaser had no obligation to deduct tax at source under section 194-IA. As no TDS default survived, the assessee could not be treated as an assessee in default under section 201(1), and the consequential interest under section 201(1A) was also unsustainable. The Tribunal followed coordinate bench rulings on the same issue and deleted the demand and interest.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4827 
Join Channel 
