https://www.taxtmi.com/caselaws?id=421345 The Tribunal granted a stay on the realization of the outstanding demand under section 40(a)(ia) of the Income-tax Act, 1961 for the non-resident company incorporated in France. The applicant's argument that section 194D does not apply to reinsurance commission, supported by judicial precedents, was considered valid. The Tribunal scheduled an expedited appeal hearing to further examine the issue, directing no coercive action for demand recovery until the appeal hearing on 28.04.2022. The stay application was allowed with specified conditions, pronounced in open court on 1st April 2022. en-us Fri, 01 Apr 2022 00:00:00 +0530 Fri, 22 Apr 2022 08:26:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=421345 The Tribunal granted a stay on the realization of the outstanding demand under section 40(a)(ia) of the Income-tax Act, 1961 for the non-resident company incorporated in France. The applicant's argument that section 194D does not apply to reinsurance commission, supported by judicial precedents, was considered valid. The Tribunal scheduled an expedited appeal hearing to further examine the issue, directing no coercive action for demand recovery until the appeal hearing on 28.04.2022. The stay application was allowed with specified conditions, pronounced in open court on 1st April 2022. Case-Laws Income Tax Fri, 01 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=421345