Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2024 (3) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2024 (3) TMI 712 - AT - Income TaxTDS u/s 195 - Remittances made to US based company M/s. IGTL Solutions (USA) - HELD THAT:- A Co-ordinate Bench of the Tribunal [2024 (3) TMI 633 - ITAT HYDERABAD directed AO to cause verification of the certificate and in the event the contents of the certificate issued in section 195(3) are found to be correct and genuine, then the consequences would be that the remittances that have been made to M/s. IGTL Solutions (USA) would be non-taxable so far as the TDS is concerned, since if the contents of such certificate are accepted, then the action on the part of the Revenue in carrying out a deduction at source on the remittances made to M/s. IGTL Solutions (USA) would be bad. Hence, while respectfully following the order of the Hon’ble High Court [ 2023 (9) TMI 1445 - TELANGANA HIGH COURT] direct the learned Assessing Officer to cause verification of the certificate dated 10/02/2003, issued under section 195(3) of the Act and if it is found to be genuine, the consequence shall be that the entire remittances that were made to M/s. IGTL Solutions (USA) would be non-taxable so far as TDS is concerned, and the impugned order under section 201(1A) of the Act will have no legs to stand. Grounds are answered accordingly.
|