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order dated 23/12/2015 of the CIT(A)- 55, Mumbai,the Assessee has filed present appeal.The assessee is engaged in the business of providing telecommunication services. It filed its return of income on 25/03/2011 declaring Nil income.The Assessing Officer(AO)completed the assessment on, 20/12/2011,determining its income at Rs. 8.29 crores u/s.143(3) of the Act. Before us,the Authorised Representative(AR)stated that the assessee was interested in pressing Ground No.12 only.Hence,we dismiss all other Grounds as not pressed. 2.Ground No.12 deals with levying of interest u/s. 234B of the Act. While completing the assessment,the AO interest u/s. 234B of the Act.The assessee challenged the levy of interest before the First Appellate Authority (FAA),who dismissed the Ground raised by it in that regard. 3.Before us,the AR stated that the issue stands covered in favour of the assessee by the judgment of the Hon'ble Bombay High Court ,delivered in the case of NGC Network Asia LLC.(222 CTR 85),that identical issue was decided by the Tribunal on 7/11/17 while deciding the Appeals/CO for the earlier years(ITA s./5156/Mum/2009,569 & 3808/Mum/ 2010,ITA.s/.2744/Mum/2012-AY 2005-06 to 2008-09 ).The Departmental Representative left the issue to the discretion of the Bench. 4.We find that at para No.7 of order of the Tribunal in ITA.s for AY.s.2005-06 to 2008- 09(supra ),the Tribunal has dealt the issue as under :-
2319/M/16 M/s. Sprint Communications Company LP “7. One more issue which arises in these appeals is the chargeability of interest u/s. 234B. We find that this issue is covered in favour of the assessee by the decision of the Hon'ble Jurisdictional High Court decision in the case of DIT(IT) vs. Ngc Network Asia LLC (2009) 222 CTR 85 (Bom). In the said case, it was expounded that when the duty is cast on the payer to pay the tax at source, on failure, no more interest can be imposed on the payee assessee u/s. 234B. Respectfully following the precedent, we hold that interest u/s.234B in this case is not chargeable.” Respectfully following the judgment of the Hon'ble Bombay High Court we decide Ground No.12 in favour of the assessee.