https://www.taxtmi.com/caselaws?id=427463 The tribunal held that the settlement amount paid by the appellant to two individuals constituted "profit in lieu of salary," making it subject to TDS. The tribunal emphasized that the nature of the payment as salary for services rendered was established, overriding the appellant's argument that it was for relinquishment of equity rights. The tribunal upheld TDS liability under Sections 201(1) and 201(1A) of the Act, directing the Assessing Officer to verify the recipient's tax payment. The tribunal partially allowed the appellant's appeal, remanding the matter for further examination while dismissing certain grounds of appeal. en-us Wed, 07 Sep 2022 00:00:00 +0530 Thu, 08 Sep 2022 18:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=427463 The tribunal held that the settlement amount paid by the appellant to two individuals constituted "profit in lieu of salary," making it subject to TDS. The tribunal emphasized that the nature of the payment as salary for services rendered was established, overriding the appellant's argument that it was for relinquishment of equity rights. The tribunal upheld TDS liability under Sections 201(1) and 201(1A) of the Act, directing the Assessing Officer to verify the recipient's tax payment. The tribunal partially allowed the appellant's appeal, remanding the matter for further examination while dismissing certain grounds of appeal. Case-Laws Income Tax Wed, 07 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=427463