The New Delhi ITAT held that no tax is deductible at source u/s 195 on payments made to overseas logistics company for rendition of logistics services, as such services cannot be treated as fees.
While holding that mere disallowance of expenditure or enhancement of returned income does not ipso facto call for the imposition of penalty u/s 271(1)(c) of Income Tax Act, the Delhi ITAT deleted.
The New Delhi ITAT recently reiterated that once insurance policy is assigned by the employer to employee, the insurance policy gets converted into an ordinary policy, and in that case, the value.
The New Delhi ITAT ruled that once AO has accepted the sales made in cash, then source of cash deposits ought to have been treated as explained, and no addition is permitted u/s 68 of the Income tax.
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that the assessee OYO is not liable for TDS under Section 194C of the Income Tax Act on the minimum guarantee payments made to.