ACIT CIRCLE-10(1), NEW DELHI vs. GLOBAL VECTRA HELICORP LTD, NEW DELHI

ITA 1483/DEL/2020Status: DisposedITAT Delhi31 January 2024AY 2012-13Bench: SHRI SAKTIJIT DEY (Vice President), DR. B.R.R. KUMAR (Accountant Member)23 pages
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What did the Tribunal hold?

The Tribunal restored the issue of book profit computation to the Assessing Officer for fresh adjudication after verifying the assessee's claim. The Tribunal upheld the CIT(A)'s decision regarding the disallowance under Section 40(a)(i), finding that no TDS was required on payments made to non-residents as the services were rendered outside India and not taxable in India as per treaty provisions.

What were the facts?

The assessee company, engaged in helicopter services, disputed the computation of book profit under Section 115JB. The Assessing Officer re-computed the deduction for brought forward loss or unabsorbed depreciation, which was upheld by the CIT(A). The Revenue also disputed disallowances under Section 40(a)(i) for payments made to non-residents without TDS.

What were the issues?

Whether the deduction for brought forward loss/unabsorbed depreciation in book profit computation was correctly calculated, and whether disallowances for payments to non-residents without TDS were justified.

Which sections of the Income-tax Act were involved?

Section 115JB,Section 40(a)(i),Section 195,Section 37

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Income Tax Appellate Tribunal, DELHI BENCH: ‘D’ NEW DELHI

Before: SHRI SAKTIJIT DEY, VICE- & DR. B.R.R. KUMAR

For Appellant: Ms. Priya Tandon, Advocate
For Respondent: Ms. Binita Devi Naorem, CIT (DR)
Hearing: 10.01.2024Pronounced: 31.01.2024

PER BENCH

Captioned appeals, one by the assessee and rest by the Revenue, arise out of separate orders of learned Commissioner of ITA Nos. 1397/Del/2020 & 1482 to 1487/Del/2020 AYs: 2011-12 to 2016-17

Income-tax (Appeals) pertaining to assessment years 2011-12,

2012-13, 2013-14, 2014-15, 2015-16 and 2016-17. Since, the issues are common in all these appeals and facts relating to such issues arising in the appeals are more or less identical, they

The order continues below.

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