https://www.taxtmi.com/caselaws?id=430002 The Supreme Court upheld the Delhi High Court's decision, ruling that the appellant (State Bank of India) was in default for not deducting tax at source on Leave Travel Concession (LTC) payments involving foreign travel by its employees. The court emphasized the employer's obligation to deduct tax under Section 192(1) and interpreted Section 10(5) and Rule 2B of the Income Tax Act, stating that the LTC scheme's purpose is to promote domestic tourism, not foreign travel. The appellant's appeal was dismissed, affirming the statutory violation and the Revenue's stance on tax deduction for LTC payments. en-us Fri, 04 Nov 2022 00:00:00 +0530 Sat, 09 May 2026 13:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=430002 The Supreme Court upheld the Delhi High Court's decision, ruling that the appellant (State Bank of India) was in default for not deducting tax at source on Leave Travel Concession (LTC) payments involving foreign travel by its employees. The court emphasized the employer's obligation to deduct tax under Section 192(1) and interpreted Section 10(5) and Rule 2B of the Income Tax Act, stating that the LTC scheme's purpose is to promote domestic tourism, not foreign travel. The appellant's appeal was dismissed, affirming the statutory violation and the Revenue's stance on tax deduction for LTC payments. Case-Laws Income Tax Fri, 04 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=430002