VIACOM 18 MEDIA PVT LTD,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX-16(1), MUMBAI

ITA 4606/MUM/2024Status: DisposedITAT Mumbai23 January 2025AY 2006-07Bench: SHRI OM PRAKASH KANT (Accountant Member), SHRI RAJ KUMAR CHAUHAN ( (Judicial Member)1 pages
AI SummaryPartly Allowed

What did the Tribunal hold?

The Tribunal held that the claim for additional TDS credit should be verified by the AO and allowed if the corresponding income was offered to tax. It also upheld the CIT(A)'s direction to verify the TDS claim, referencing the Supreme Court decision in Goetz India Ltd. The Revenue's appeal was dismissed.

What were the facts?

The assessee, Viacom 18 Media Pvt. Ltd., appealed against the denial of additional interest on refund and the incorrect set-off of brought forward business losses and unabsorbed depreciation. The Assessing Officer (AO) had passed an order giving effect to an ITAT order, but the assessee claimed discrepancies in the refund calculation and set-off amounts.

What were the issues?

The key issues were the non-grant of additional interest on refund and the incorrect set-off of brought forward business losses and unabsorbed depreciation, as well as the eligibility of additional TDS credit claims.

Which sections of the Income-tax Act were involved?

Section 244A,Section 153(5),Section 72,Section 32(2)

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IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “F” MUMBAI

BEFORE SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) AND SHRI RAJ KUMAR CHAUHAN (JUDICIAL MEMBER)

ITA Nos. 4606 & 4608/MUM/2024 Assessment Years: 2006-07 & 2011-12 Viacom 18 Media Pvt. Ltd., Asst. CIT-16(1) One Unity Centre, Tower-4, 4th floor, Aayakar Bhavan, Vs. Senapati Bapat Marg, Prabhadevi, Maharshi Karve Rd., Mumbai-400013. Churchgate, Mumbai-400020. PAN NO. AAACM 9164 E Appellant Respondent Assessment Year: 2011-12 Mumbai-400020. PAN NO. AAACM 9164 E Appellant Respondent

: Ms. Moksha Mehta Assessee by : Ms. Kanupriya Damor, Sr. DR Revenue by : 02/01/2025 Date of Hearing : 23/01/2025 Date of pronouncement

Viacom 18 Media Pvt. Ltd. Viacom 18 Media Pvt. Ltd.

The appeal of the assessee for assessment year 2006-07 is directed against order dated 16.07.2024 passed by the Ld. directed against order dated 16.07.2024 passed by the Ld. directed against order dated 16.07.2024 passed by the Ld. Commissioner of Income Commissioner of Income-tax (Appeals) – National Faceless Appeal Nati

The order continues below.

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