TMI Blog2020 (7) TMI 632X X X X Extracts X X X X X X X X Extracts X X X X ..... he petitioner had in its own application for grant of certificate of deduction of tax at source at NIL rate under Section 197 had mentioned the applicable rates as 2% and/or 10% during Financial Year 2020-21. She also states that the projected gross receipts during this Financial Year 2020-21 is projected to be 78% more than the preceding year according to the petitioner itself. Since detailed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1. The petition has been listed before this Bench by the Registry in view of the urgency expressed therein. The same has been heard by way of video conferencing. 2. Present writ petition has been filed challenging the order dated 29th June, 2020 passed by respondent No.2 under Section 197 of the Income Tax Act refusing to grant a certificate of deduction of tax at source at NIL rate, on paymen ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... elf comes at a very low figure of 0.18%. He further states that the ratio of tax withholding to profits has been as high as 1758% in the recent past. 5. Issue notice. 6. Ms. Lakshmi Gurung, learned counsel accepts notice on behalf of the respondents. She states that the respondents while issuing the impugned certificate has placed detailed reasons on record. She further states that the petit ..... X X X X Extracts X X X X X X X X Extracts X X X X
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