Diversion of income by overriding Title - The assessee has acted ...

Income Tax

November 12, 2022

Diversion of income by overriding Title - The assessee has acted as nodal or implementing agency for the schemes framed by GOI. Hence the amounts transferred to TDF/WDF are diverted at source itself and hence, the same does not belong to the assessee. Accordingly, the amounts so diverted to TDF/WDF cannot be brought to tax in the hands of the assessee. - AT

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Diversion of income by overriding Title - The assessee has acted ...

Income Tax

November 12, 2022

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