M/S. PANASONIC ENERGY INDIA CO.LTD,VADODARA vs. THE PR. CIT-2, BARODA

ITA 1534/AHD/2015Status: DisposedITAT Ahmedabad26 September 2017AY 2009-1024 pages
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What did the Tribunal hold?

The Tribunal held that the Principal Commissioner was not justified in invoking Section 263 powers based on the premise that commission paid to a non-resident for services rendered outside India is taxable in India. The Tribunal found this premise to be legally unsustainable.

What were the facts?

The Principal Commissioner of Income Tax invoked Section 263 powers to revise an assessment, holding that commission paid to a non-resident for services rendered outside India was taxable in India. The assessee argued that the assessment was completed with proper inquiry and the commission was not taxable.

What were the issues?

Whether the Principal Commissioner erred in invoking Section 263 powers when the commission paid to a non-resident for services rendered outside India was not taxable in India.

Which sections of the Income-tax Act were involved?

Section 263,Section 143(3),Section 40(a)(i),Section 195,Section 9(1)(i),Section 9(1)(vii)

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Income Tax Appellate Tribunal, AHMEDABAD “D” BENCH, AHMEDABAD

Per Pramod Kumar, AM:

1.

By way of this appeal, the assessee-appellant has challenged the correctness of the order dated 30.03.2015 passed by the Principal Commissioner of Income-tax, Vadodara-2, Vadodara under Section 263 of the Income-tax Act, 1961 for the Assessment Year 2009-10. 2. The grievances raised by the assessee are as follows:- “1. The learned Principal Commissioner of the Income Tax-2, Vadodara ("the CIT”) erred in fact and in law in revising the assessment by invoking powers u/s. 263 of the Income Tax Act, 1961 ("the Act") which was completed

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