Central Government specifies that no deduction of tax shall be made under section 194-IA of the IT Act 1961 on any payment made to the Air India Limited - 106/2021 - Income Tax Act, 1961
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No tax deduction under section 194-IA on payments to Air India Limited for approved property transfer, applied retrospectively. The Central Government, under sub-section (1F) of section 197A, specifies that no deduction of tax shall be made under section 194-IA on payments to Air India Limited for transfer of immovable property to Air India Assets Holding Limited under a Central Government-approved plan, with the specification effective from 1 April 2021 and an explanatory memorandum stating no person is adversely affected by the retrospective effect.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
No tax deduction under section 194-IA on payments to Air India Limited for approved property transfer, applied retrospectively.
The Central Government, under sub-section (1F) of section 197A, specifies that no deduction of tax shall be made under section 194-IA on payments to Air India Limited for transfer of immovable property to Air India Assets Holding Limited under a Central Government-approved plan, with the specification effective from 1 April 2021 and an explanatory memorandum stating no person is adversely affected by the retrospective effect.
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