https://www.taxtmi.com/caselaws?id=405898 The Tribunal allowed both appeals, quashing the orders under Sections 201 and 201(1A) of the Income-tax Act, 1961, for the assessment years 2014-15 and 2015-16. The Tribunal emphasized the need for the Department to demonstrate pending tax liabilities against the payees before invoking Section 201 and held that the bank could not be treated as an assessee in default based on the declarations made in Form No. 15G/15H. The Tribunal also highlighted the procedural lapses, including the absence of proper notice, which rendered the AO's orders invalid. en-us Tue, 30 Mar 2021 00:00:00 +0530 Thu, 01 Apr 2021 11:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405898 The Tribunal allowed both appeals, quashing the orders under Sections 201 and 201(1A) of the Income-tax Act, 1961, for the assessment years 2014-15 and 2015-16. The Tribunal emphasized the need for the Department to demonstrate pending tax liabilities against the payees before invoking Section 201 and held that the bank could not be treated as an assessee in default based on the declarations made in Form No. 15G/15H. The Tribunal also highlighted the procedural lapses, including the absence of proper notice, which rendered the AO's orders invalid. Case-Laws Income Tax Tue, 30 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405898