https://www.taxtmi.com/caselaws?id=464963 ITAT held the assessee, a nationalized bank, in default under ss. 201(1) and 201(1A) for failure to deduct TDS on Leave Travel Concession payments to employees. The bank's plea that LTC was exempt u/s 10(5) and that it acted under a bona fide belief was rejected, noting it had not sought relief u/s 197 and had ignored mandatory TDS provisions. Relying on SC interpretation of "any place in India" in s. 10(5), the Tribunal held the exemption did not cover foreign travel and dismissed the assessee's appeal. en-us Mon, 09 Dec 2024 00:00:00 +0530 Wed, 26 Nov 2025 18:59:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=464963 ITAT held the assessee, a nationalized bank, in default under ss. 201(1) and 201(1A) for failure to deduct TDS on Leave Travel Concession payments to employees. The bank's plea that LTC was exempt u/s 10(5) and that it acted under a bona fide belief was rejected, noting it had not sought relief u/s 197 and had ignored mandatory TDS provisions. Relying on SC interpretation of "any place in India" in s. 10(5), the Tribunal held the exemption did not cover foreign travel and dismissed the assessee's appeal. Case-Laws Income Tax Mon, 09 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=464963