https://www.taxtmi.com/caselaws?id=768130 The HC found that the bank was not required to deduct tax at source on Leave Travel Concession (LTC) payments involving foreign travel during the period covered by an interim order from the Madras HC. While the SC had previously ruled that such payments are not exempt under Section 10(5) of the Income Tax Act and would normally require tax deduction, the Tribunal determined that the bank could not be considered an assessee-in-default as it was legally bound to comply with the interim order prohibiting such deductions. The tax demand was accordingly deleted and the appeal allowed. en-us Fri, 28 Mar 2025 00:00:00 +0530 Tue, 07 Jul 2026 17:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768130 The HC found that the bank was not required to deduct tax at source on Leave Travel Concession (LTC) payments involving foreign travel during the period covered by an interim order from the Madras HC. While the SC had previously ruled that such payments are not exempt under Section 10(5) of the Income Tax Act and would normally require tax deduction, the Tribunal determined that the bank could not be considered an assessee-in-default as it was legally bound to comply with the interim order prohibiting such deductions. The tax demand was accordingly deleted and the appeal allowed. Case-Laws Income Tax Fri, 28 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768130