Deferred Payment of Customs Duty extended to Eligible Manufacturer Importers with electronic registration and ICEGATE authentication for conditional c...
Tariff classification determines GST schedule and rate; beverages in Schedule III attract the higher rate, tea extracts and syrups in Schedule I attra...
Fraudulent trading requires cogent evidence of intent to defraud; ordinary-course payments protected, except post-insolvency withdrawals must be resto...
TDS credit is available only to the person in whose hands the related income is assessable. The assessee, an APMC commission agent, admitted that the purchases and sales on which tax was deducted were those of agriculturists or farmers, not his own sales income. On that factual basis, the ITAT held that TDS reflected in the assessee's PAN was a wrong deduction entry and could not be claimed by him without corresponding income being offered to tax. The proper remedy was correction of the TDS statement by the deductor or issue of the credit in the correct names. The denial of TDS credit was upheld and the appeal was dismissed.
TDS credit is available only to the person in whose hands the related income is assessable. The assessee, an APMC commission agent, admitted that the purchases and sales on which tax was deducted were those of agriculturists or farmers, not his own sales income. On that factual basis, the ITAT held that TDS reflected in the assessee's PAN was a wrong deduction entry and could not be claimed by him without corresponding income being offered to tax. The proper remedy was correction of the TDS statement by the deductor or issue of the credit in the correct names. The denial of TDS credit was upheld and the appeal was dismissed.
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