2024 (2) TMI 1118 - SCH - Income Tax

Principle of grossing up u/s 195A - TDS u/s 195 on the amount payable to University of Warwick, UK - Whether the grossing up has to be done to arrive at the tax to be deducted at source? - as decided by HC 2018 (9) TMI 81 - MADRAS HIGH COURT obligation to pay the tax is on the University of Warwick and since the assessee in terms of the agreement agreed to pay the taxes, the same has to be necessarily added to the income of the University of Warwick and therefore, the principle of grossing up has to be applied. HELD THAT - Special Leave Petitions are dismissed as withdrawn, However, the question of law is kept open. Pending application(s), if any, shall stand disposed of.

Summary

The Supreme Court dismissed the Special Leave Petitions as withdrawn but kept the question of law open. Pending applications will be disposed of. (Case citation: 2024 (2) TMI 1118 - SC)