02 November 2010
A banking company had deducted 10% TDS on deposit from a company instead of 20 % (AY 2007-08). However deductee company had filed their return of income disclosing this income and paid tax. Is there a case law stating TDS need not be paid in such a situation.
02 November 2010
case of Coca Cola Beverages Pvt. Ltd vs. CIT (2007) 293 ITR 226 (SC) rendered for penalty and interest, also equally applicable for disallowance of expenses u/s 40A(ia).
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