CIT v. Madras Fertilisers Ltd.

Standard Chartered Bank (Singapore)Limited, Mumbai vs. The Deputy Commissioner of Income Tax International Taxation Circle 4(2)(2), Mumbai

In the result, appeal of the assessee is allowed

Bench: Shri Narendra Kumar Billaiya, Hon’Ble & Shri Rahul Chaudhary, Hon’Ble

…um/2024 3 Strong reliance was placed on the decision of the Co-ordinate Bench in the case of Goldman Sachs Investment (Mauritius) Ltd. v. Dy.CIT(2021) 187 ITD 184 (Mum.)(Trib.) and Hon’ble Madras High Court in the case of C.I.T. v. Madras Fertilizers Limited [149 ITR 703]. The ld. D/R strongly supported the findings of the AO/ld. CIT(A). It is the say of the ld. D/R that though the assessee has received interest throughout the year but it is not known that for which period the assessee has fully paid the advance tax. 5. We have given a thoughtful consideration to the orders of the authorities below and have perus…

ADIT (It) 2(2), Mumbai vs. Zee Tv Usa Inc, Mumbai

In the result, appeal by the Revenue is dismissed and Cross Objections are partly allowed

Bench: Shri Pramod Kumar, Vice- & Shri Vikas Awasthyआअसं. 3161/मुं/2010 ("न.व. 2006-07) The Adit(It)-2(2), Room No.116, 1St Floor, Scindia House, Ballard Estate, N.M. Road, Mumbai 400 038 ...... अपीलाथ" /Appellant बनाम Vs. M/S. Zee Tv Usa Inc., C/O. Mgb & Co Jolly Bhavan 2, 1St Floor, New Marine Lines, Mumbai 400 020 Pan: Aaacf1291K ..... ""तवाद"/Respondent C.O. No.15/Mum/2011 (Arising Out Of Ita No.3161/Mum/2010-A.Y. 2006-07) M/S. Zee Tv Usa Inc., C/O. Mgb & Co Jolly Bhavan 2, 1St Floor, New Marine Lines, Mumbai 400 020 Pan: Aaacf1291K ...... Cross Objector Vs. The Adit(It)-2(2), Room No.116, 1St Floor, Scindia House, Ballard Estate, N.M. Road, Mumbai 400 038 ...... Appellant In Appeal Assessee By : S/Shri Niraj Seth & Jay Bhanshali Revenue By : Shri Vijay Kumar Subramaniyam सुनवाई क" "त"थ/ Date Of Hearing : 11/02/2021 घोषणा क" "त"थ/ Date Of Pronouncement : 06/05/2021

…आयकर अपील"य अ"धकरण मुंबई पीठ “आई”, मुंबई "ी "मोद कुमार, उपा"य" एवं "ी "वकास अव"थी, "या"यक सद"य के सम" IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “I”, MUMBAI BEFORE SHRI PRAMOD KUMAR, VICE-PRESIDENT & SHRI VIKAS AWASTHY, JUDICIAL MEMBER आअसं. 3161/मुं/2010 ("न.व. 2006-07) The ADIT(IT)-2(2), Room No.116, 1st Floor, Scindia House, Ballard Estate, N.M. Road, Mumbai 400 038 ...... अपीलाथ" /Appellant बनाम Vs. M/s. Zee TV USA Inc., C/o. MGB & Co Jolly Bhavan 2, 1st Floor, New Marine Lines, Mumbai 400 020 PAN: AAACF1291K ..... ""तवाद"/Respondent C.O. NO.15/MUM/2011 (Arising out of ITA NO.3161/MUM/2010-A.Y. 200…

Rackspace Us, Inc., Mumbai vs. Deputy Commissioner of Income Tax(International Taxation)-4(1)(1), Mumbai

In the result, the appeal filed by the assessee is hereby ordered to be allowed

…rector of IT (International Taxation) v. Morgan Guarantee International Finance Corporation, by applying the ratio of that judgment. 7. Our attention is also invited to the judgment of the Madras High Court in the case of CIT v. Madras Fertilisers Ltd. [1984] 149 ITR 703 (Mad), where the Madras High Court took the view that the amount of tax deductible at source is to be taken into consideration to determine the liability to pay the interest under s. 215. In that case, the assessee had not paid advance tax on interest income. The payer of interest had not deducted the tax. The learned Bench of the Madras High Cou…

Rackspace Us, Inc., Mumbai vs. Deputy Commissioner of Income Tax(International Taxation)-4(1)(1), Mumbai

In the result, the appeal filed by the assessee is hereby ordered to be allowed

…rector of IT (International Taxation) v. Morgan Guarantee International Finance Corporation, by applying the ratio of that judgment. 7. Our attention is also invited to the judgment of the Madras High Court in the case of CIT v. Madras Fertilisers Ltd. [1984] 149 ITR 703 (Mad), where the Madras High Court took the view that the amount of tax deductible at source is to be taken into consideration to determine the liability to pay the interest under s. 215. In that case, the assessee had not paid advance tax on interest income. The payer of interest had not deducted the tax. The learned Bench of the Madras High Cou…

Hapag Lloyd Ag, Mumbai vs. DCIT (It) Range-2 (2) (2), Mumbai

Appeal are disposed off in the same terms

Bench: Shri Pramod Kumar & Shri Ravish Soodita No. 218/Mum/2020 (Assessment Year: 2016-17)

…ctor of IT (International Taxation) vs. Morgan Guarantee International Finance Corporation, by applying the ratio of that judgment. 7. Our attention is also invited to the judgment of the Madras High Court in the case of CIT vs. Madras Fertilisers Ltd. (1984) 149 ITR 703 (Mad), where the Madras High Court took the view that the amount of tax deductible at source is to be taken into consideration to determine the liability to pay the interest under s. 215. In that case, the assessee had not paid advance tax on interest income. The payer of interest had not deducted the tax. The learned Bench of the Madras High Cou…

Deputy Commissioner of Income Tax (International Taxation) - 2(1)(1), Mumbai vs. Citibank Overseas Investment Corporation, Mumbai

In the result, appeal of the assessee is partly allowed as indicated above, the appeal of the revenue and cross objection of the assessee are dismissed

Bench: Shri C.N. Prasad, Hon'Ble & Shri Manoj Kumar Aggarwal, Hon'Blecitibank Overseas Investment Corporation V. Dy. Cit (International Taxation) – 2(1)(1) C/O Deloitte Haskins & Sells Llp Room No. 1713, 17Th Floor 30 Floor, Tower 3 Air India Building India Bulls Finance Centre Nariman Point, Mumbai – 400 021 Senapati Bapat Marg Elphinstone Road (West) Mumbai – 400 013 Pan: Aabcc5333N (Appellant) (Respondent) Dy. Cit (International Taxation) – 2(1)(1) V. Citibank Overseas Investment Room No. 1713, 17Th Floor Corporation Air India Building C/O Deloitte Haskins & Sells Llp 30 Floor, Tower 3 Nariman Point, Mumbai – 400 021 India Bulls Finance Centre Senapati Bapat Marg Elphinstone Road (West) Mumbai – 400 013 Pan: Aabcc5333N (Appellant) (Respondent)

…ernational Finance Corporation, by applying the ratio of that judgment. 7. Our attention is also invited to the judgment of the Madras High Court, in the case of Commissioner of Income-Tax, Tamil Nadu- I, Madras v/s Madras Fertilisers Ltd., reported in (1984) 149 ITR 703, where the Madras High Court took the view that the amount of tax deductible at source is to be taken into consideration to determine the liability to pay the interest under Section 215. In that case, the assessee had not paid advance tax on interest income. The payer of interest had not deducted the tax. The learned Bench of the Madras High Cour…

Citibank Overseas Investment Corporation, Mumbai vs. Deputy Commissioner of Income Tax (International Taxation) - 2(1)(1), Mumbai

In the result, appeal of the assessee is partly allowed as indicated above, the appeal of the revenue and cross objection of the assessee are dismissed

Bench: Shri C.N. Prasad, Hon'Ble & Shri Manoj Kumar Aggarwal, Hon'Blecitibank Overseas Investment Corporation V. Dy. Cit (International Taxation) – 2(1)(1) C/O Deloitte Haskins & Sells Llp Room No. 1713, 17Th Floor 30 Floor, Tower 3 Air India Building India Bulls Finance Centre Nariman Point, Mumbai – 400 021 Senapati Bapat Marg Elphinstone Road (West) Mumbai – 400 013 Pan: Aabcc5333N (Appellant) (Respondent) Dy. Cit (International Taxation) – 2(1)(1) V. Citibank Overseas Investment Room No. 1713, 17Th Floor Corporation Air India Building C/O Deloitte Haskins & Sells Llp 30 Floor, Tower 3 Nariman Point, Mumbai – 400 021 India Bulls Finance Centre Senapati Bapat Marg Elphinstone Road (West) Mumbai – 400 013 Pan: Aabcc5333N (Appellant) (Respondent)

…ernational Finance Corporation, by applying the ratio of that judgment. 7. Our attention is also invited to the judgment of the Madras High Court, in the case of Commissioner of Income-Tax, Tamil Nadu- I, Madras v/s Madras Fertilisers Ltd., reported in (1984) 149 ITR 703, where the Madras High Court took the view that the amount of tax deductible at source is to be taken into consideration to determine the liability to pay the interest under Section 215. In that case, the assessee had not paid advance tax on interest income. The payer of interest had not deducted the tax. The learned Bench of the Madras High Cour…

Rackspace, Us Inc., Usa vs. DCIT (It) -4(1)(1), Mumbai

In the result, the appeal filed by the assessee is hereby ordered to be allowed

Bench: Shri M. Balaganesh, Am & Shri Amarjit Singh, Jm आयकर अपील सं/ I.T. A Nos.6195 & 4920/Mum/2018 (निर्धारण वर्ा / Assessment Years: 2010-11 & 2015-16) Rackspace, Us Inc बिधम/ Dcit, (International 1 Fanatical Place, Winderest, Taxation)-4(1)(1), Mumbai Vs. Taxas, Usa Room No.1712, 17Th Floor, C/O Deloitte Haskins & Sells Air India Building, Nariman Llp, Indiabulls Finance Point, Mumbai-400021. Centre, Tower-3, 27Th- 32Nd Floor, Senapati Bapat Marg, Elphinstone Road (W), Mumbai-400013. स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaecr7201H (अपीलाथी /Appellant) (प्रत्यथी / Respondent) .. Assessee By: Shri Nitesh Joshi/Milin Thakore Revenue By: Ms. Neha Thakur (Sr. Dr) सुनवाई की तारीख / Date Of Hearing: 10/10/2019 घोषणा की तारीख /Date Of Pronouncement: 28/11/2019 आदेश / O R D E R Per Amarjit Singh, Jm: The Assessee Has Filed The Above Mentioned Appeals Against The Direction Of The Disputes Resolution Panel -2, Mumbai Dated 27.06.2018. The Assessment Was Framed By The Dcit (International Tax)- Circle 4(1)(1), Mumbai For The Relevant A.Ys. 2010-11 & 2015- 16 U/S 144C(6) R.W.S. 143(3) Of The I. T. Act. (Hereinafter ‘The Act’).

…rector of IT (International Taxation) v. Morgan Guarantee International Finance Corporation, by applying the ratio of that judgment. 7. Our attention is also invited to the judgment of the Madras High Court in the case of CIT v. Madras Fertilisers Ltd. [1984] 149 ITR 703 (Mad), where the Madras High Court took the view that the amount of tax deductible at source is to be taken into consideration to determine the liability to pay the interest under s. 215. In that case, the assessee had not paid advance tax on interest income. The payer of interest had not deducted the tax. The learned Bench of the Madras High Cou…