https://www.taxtmi.com/caselaws?id=431302 The Tribunal ruled in favor of the assessee, canceling the liability under Section 201(1) r.w. Section 201(1A) as there was no default under Section 194IA. The judgment clarified that the obligation under Section 194IA is individual to each transferee based on their payment or credit, not on the aggregate consideration, emphasizing the importance of interpreting tax laws in alignment with practical application and legislative intent to prevent unintended consequences. en-us Tue, 02 Aug 2022 00:00:00 +0530 Sat, 10 Dec 2022 11:13:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=431302 The Tribunal ruled in favor of the assessee, canceling the liability under Section 201(1) r.w. Section 201(1A) as there was no default under Section 194IA. The judgment clarified that the obligation under Section 194IA is individual to each transferee based on their payment or credit, not on the aggregate consideration, emphasizing the importance of interpreting tax laws in alignment with practical application and legislative intent to prevent unintended consequences. Case-Laws Income Tax Tue, 02 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=431302