https://www.taxtmi.com/caselaws?id=261243 The Tribunal granted a stay on the realization of an outstanding demand of Rs. 27,93,47,377 levied under Section 271C for the financial years 2007-08 to 2011-12, due to non-deduction of tax at source on discounts to prepaid distributors. The stay was allowed for 180 days or until the Tribunal's order in the appeal, acknowledging the assessee's prima-facie case and potential undue hardship. The Tribunal also noted conflicting judicial views on the applicability of TDS provisions to such discounts, further supporting the grant of stay. en-us Wed, 24 Jun 2015 00:00:00 +0530 Mon, 06 Jul 2015 08:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=261243 The Tribunal granted a stay on the realization of an outstanding demand of Rs. 27,93,47,377 levied under Section 271C for the financial years 2007-08 to 2011-12, due to non-deduction of tax at source on discounts to prepaid distributors. The stay was allowed for 180 days or until the Tribunal's order in the appeal, acknowledging the assessee's prima-facie case and potential undue hardship. The Tribunal also noted conflicting judicial views on the applicability of TDS provisions to such discounts, further supporting the grant of stay. Case-Laws Income Tax Wed, 24 Jun 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=261243