Diversion of income by overriding Title - The assessee has acted ...

Income Diverted by Overriding Title Not Taxable for Assessee Acting as Government Scheme Implementer.

November 12, 2022

Case Laws Income Tax AT

Diversion of income by overriding Title - The assessee has acted as nodal or implementing agency for the schemes framed by GOI. Hence the amounts transferred to TDF/WDF are diverted at source itself and hence, the same does not belong to the assessee. Accordingly, the amounts so diverted to TDF/WDF cannot be brought to tax in the hands of the assessee. - AT

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Diversion of income by overriding Title - The assessee has acted ...

Income Diverted by Overriding Title Not Taxable for Assessee Acting as Government Scheme Implementer.

November 12, 2022

Case Laws Income Tax AT

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