Assessee’s Bonafide Belief on TDS Exemption for Foreign Travel LTC Protects from Default u/s. 201(1) and 201(1A) of the Income Tax Act, Rules ITAT

By Fidha Lulu K G - On May 15, 2023 12:05 pm - 3 mins read

Assessee's Bonafide Belief - TDS Exemption - TDS Exemption for Foreign Travel LTC - LTC - Income Tax Act - Income Tax - ITAT - taxscan

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) recently provided opportunity of re-adjudication on TDS exemption for foreign travel Leave Travel Concession (LTC) default under Sections 201(1) and 201(1A) of the Income Tax Act due to Bonafide belief of Assessee. The Assessee-State Bank of India Corporate Centre has challenged the order passed under Section…

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