2024 (11) TMI 175 - HC - Income Tax

Denial of credit of TDS on salaries - petitioners are ex-employees of Karvy Stock Broking Limited and in spite of the fact that the tax was deducted from their salary but not deposited by the said Company - HELD THAT - This Court in 2024 (4) TMI 1195 - GUJARAT HIGH COURT recording the facts of the case, issued the Notice and stayed the impugned notices till final disposal of the petition. Today, petitioners submitted that the petitioners are suffering continuous loss as they are not entitled to the refund because of the pendency of this proceeding. Learned Senior Standing Counsel Mr. Sanghani submitted that in one of the matters, the reply is already filed by the respondent. Considering the above submissions, list these matters for final disposal on 07.10.2024 on top of the Board.

Summary

The High Court of Gujarat heard a case involving ex-employees of Karvy Stock Broking Limited who were not given credit for tax deducted from their salaries. The court issued a notice and stayed the assessment process. The matter is listed for final disposal on 07.10.2024.