Retrospective cancellation of charitable registration under section 12AB(4) was unsustainable; related-party benefit allegations did not prove nongenu...
Merger control notice and disclosure rules: Supreme Court limits penalties, rejects reopening of approved combination, and sets aside adverse findings...
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Section 194-IA applies transferee-wise, so the threshold for TDS on purchase of immovable property must be examined with reference to each joint transferee's share of consideration. Where an assessee's individual share is below the statutory limit, tax deduction cannot be insisted on merely because the total consideration under a single sale deed exceeds that limit. The order treating the assessee as in default under section 200A, and the appellate order sustaining it, were therefore unsustainable and the demand was set aside.
Section 194-IA applies transferee-wise, so the threshold for TDS on purchase of immovable property must be examined with reference to each joint transferee's share of consideration. Where an assessee's individual share is below the statutory limit, tax deduction cannot be insisted on merely because the total consideration under a single sale deed exceeds that limit. The order treating the assessee as in default under section 200A, and the appellate order sustaining it, were therefore unsustainable and the demand was set aside.
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