https://www.taxtmi.com/caselaws?id=341139 The Tribunal upheld the CIT's order, denying the assessee's claims regarding the legality of the order and the non-deduction of TDS on Leave Travel Concession (LTC) payments, particularly for foreign travel. The Tribunal affirmed that Section 10(5) exemption for LTC is not applicable to foreign travel and rejected the bank's argument of a bona fide belief in not deducting TDS. The Tribunal also ruled that TDS should be computed at a flat rate of 30% and directed the AO to recompute tax and interest demand based on the CIT(A)'s instructions, dismissing the appeals and issuing stay instructions to the Department. en-us Tue, 28 Mar 2017 00:00:00 +0530 Wed, 30 Aug 2017 16:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=341139 The Tribunal upheld the CIT's order, denying the assessee's claims regarding the legality of the order and the non-deduction of TDS on Leave Travel Concession (LTC) payments, particularly for foreign travel. The Tribunal affirmed that Section 10(5) exemption for LTC is not applicable to foreign travel and rejected the bank's argument of a bona fide belief in not deducting TDS. The Tribunal also ruled that TDS should be computed at a flat rate of 30% and directed the AO to recompute tax and interest demand based on the CIT(A)'s instructions, dismissing the appeals and issuing stay instructions to the Department. Case-Laws Income Tax Tue, 28 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=341139