ASST COMMISSIONER OF INCOME TAX, CIRCLE 2, PUNE vs. NORTH AMERICAN COAL CORPORATION INDIA P LTD, PUNE

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ITA 541/PUN/2020Status: DisposedITAT Pune22 April 2021AY 2014-201510 pages

In favour of the assessee: the Revenue's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal held that an order passed by the ITSC is an 'other proceeding' under the Act, entitling the assessee to suo motu refund under Section 240. It further clarified that 'taxes already paid' includes TDS under Section 199, and thus, credit for TDS should be granted.

What were the facts?

The assessee, a subsidiary of a US company, paid royalty to its parent. The Assessing Officer (AO) denied credit for Tax Deducted at Source (TDS) despite an order from the Income-tax Settlement Commission (ITSC) directing credit for taxes paid. The assessee had not filed a return for the relevant assessment year before approaching the ITSC.

What were the issues?

Whether credit for TDS is admissible under Section 240 when an order is passed by the ITSC, even if no return was filed before approaching the ITSC. Whether 'taxes already paid' in the context of an ITSC order includes TDS.

Which sections of the Income-tax Act were involved?

Section 240,Section 199,Section 245C,Section 245D(4)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, PUNE BENCH “SMC”, PUNE – VIRTUAL COURT

Before: SHRI R.S. SYAL

For Appellant: Shri S.P. Walimbe
For Respondent: Shri Siddhesh Chaugule

आदेशानुसार आदेशानुसार/ BY ORDER, आदेशानुसार आदेशानुसार // True Copy // Senior Private Secretary आयकर अपीलीय अिधकरण ,पुणे / ITAT, Pune North American Coal Corporation India Pvt. Ltd.,

Date 1. Draft dictated on 21-04-2021 Sr.PS 2. Draft placed before author 22-04-2021 Sr.PS 3. Draft proposed & placed -- JM before the second member 4. Draft discussed/approved -- JM by Second Member. 5. Approved Draft comes to Sr.PS the Sr.PS/PS 6. Kept for pronouncement Sr.PS on 7. Date of uploading order Sr.PS 8. File sent to the Bench Clerk Sr.PS 9. Date on which file goes to the Head Clerk 10. Date on which file goes to the A.R. 11. Date of dispatch of Order. *

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