Business Process Outsourcing, LLC v. AAR (2019) 264 Taxman 59 (Bom.)(HC)

S. 201 : Deduction at source-Failure to deduct or pay-Rs. 10 Million US Dollars in escrow account- TDS liability-Notices issued under S 201 and 201(1A) would stand stayed during pendency of proceedings.[ S.195, 201(1), 201(IA)]

Court held that in view of fact that assessee had kept a sum of Rs. 10 Million US Dollars in escrow account which would be by and large sufficient to meet with its TDS requirement if ultimately so arose, notices issued to assessee under sections 201 and 201(1A) would stand stayed during pendency of proceedings. The writ petition was posted for hearing on 14 -06 -2019.