TDS u/s 195 - Addition u/s 40(a)(i) - remittances without ...

Income Tax

February 20, 2024

TDS u/s 195 - Addition u/s 40(a)(i) - remittances without deducting tax at source [TAS] - disallowances qua payments made by assessee concerning purchases from its seven (07) group companies - The High court held that this aspect was concededly not the subject matter of the disallowance ordered under Section 40(a) of the Act. The disallowance under the said provision was confined to payments made by the respondent/assessee against purchases required to conform to the equal treatment clause or the non-discrimination Clause contained in Article 24(3)/26(3). Perhaps for this reason, the AO did not take recourse to the provisions of Article 9 of the respective DTAAs. - The High court found that the ITAT was correct in its interpretation of the DTAA provisions, which override domestic tax laws where more beneficial to the assessee.

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TDS u/s 195 - Addition u/s 40(a)(i) - remittances without ...

Income Tax

February 20, 2024

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