Taxcharcha
In terms of section 194A(1), The time of deduction of tax u/s 194A(1) is undisputedly time at which interest is to be credited to account of payee or when it is paid in cash/cheque or draft therefore, deduction of tax at source on interest income before close of financial year concerned as provided under section 194A(4) would not obligate assessee bank from penalty for not deducting tax at source at time of credit of said income in payee’s account – HC Allahabad
Income Tax

In terms of section 194A(1), The time of deduction of...

Team Taxcharcha

Category : Law

Income TaxIncome TaxIncome TaxLatestLawRecent Case Laws

Reliance by the AO on statements of third parties without giving the assessee an opportunity of cross-examination is a gross failure of the principles of natural justice and renders the assessment order a nullity -ITAT Delhi

Team Taxcharcha
by Team Taxcharcha01139
The additions made merely on the statement of the third party and without providing an opportunity of being heard and cross examine the basis of...