Sec. 40(a)(ii) – TDS not like income-tax which is required to be paid on profits & gains chargeable to tax u/s 28 and thus not disallowable u/s 40(a)(ii). Consequently, interest paid u/s 201(1A) upon late payment of TDS cannot be disallowed u/s 40(a)(ii).
Welkin Telecom Infra (P.) Ltd. v. DCIT – [2022] 142 taxmann.com 146 (Kolkata-Trib.).
Sec. 206C – TCS provisions not applicable on assessee trading timber sawn after importing from other countries.
PCIT (TDS) v. Nirmal Kumar Kejriwal – [2022] 142 taxmann.com 141 (Calcutta).
CBDT notifies Form ITR-A for filing of modified return by successor entity.
Notification No. 110/2022, dated 19-09-2022.
SLP dismissed against impugned HC order that where AO passed an assessment order u/s 143(3) without issuing notice u/s 143(2) and only in pursuance with notice issued by Asstt. CIT u/s 143(2), who had no jurisdiction over assessee at relevant time, such assessment order was liable to be set aside.
Asstt. Commissioner of Income-tax v. S.K. Industries – [2022] 141 taxmann.com 569 (SC).
CBDT issues additional guidelines on deduction of tax at source u/s 194R.
Circular No. 18 of 2022, dated 13-9-2022.
SC admits SLP filed against Madras HC’s decision quashing prosecution launched against Karti Chidambaram.
Deputy Director of Income-tax (Investigations) v. Karti P. Chidambaram – [2022] 142 taxmann.com 223 (SC).