https://www.taxtmi.com/caselaws?id=800733 Binding interim judicial directions requiring leave fare concession reimbursements with a foreign travel leg not to be treated as income for tax deduction purposes prevented the bank's non-deduction from constituting a default. Although such reimbursements were not substantively exempt under section 10(5), the directions placed any eventual tax liability on employees if the writ petition failed. In the absence of modification, vacation, or inapplicability of that protection, a subsequent finding on substantive taxability could not retrospectively create a deduction obligation. The bank therefore was not an assessee in default under section 201(1), and consequential interest under section 201(1A) was not leviable. en-us Wed, 07 Oct 2026 00:00:00 +0530 Sat, 10 Oct 2026 08:32:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=800733 Binding interim judicial directions requiring leave fare concession reimbursements with a foreign travel leg not to be treated as income for tax deduction purposes prevented the bank's non-deduction from constituting a default. Although such reimbursements were not substantively exempt under section 10(5), the directions placed any eventual tax liability on employees if the writ petition failed. In the absence of modification, vacation, or inapplicability of that protection, a subsequent finding on substantive taxability could not retrospectively create a deduction obligation. The bank therefore was not an assessee in default under section 201(1), and consequential interest under section 201(1A) was not leviable. Case-Laws Income Tax Wed, 07 Oct 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=800733