Karnataka Power Transmission Corporation Ltd. v. DCIT

383 ITR 59High Court2016#1765 most cited

What is Karnataka Power Transmission Corporation Ltd. v. DCIT authority for?

Tax must be deducted at source under Section 194A only on interest that ultimately partakes the character of income for the recipient. If interest does not qualify as income or falls outside the scope of Section 2(28A), there is no obligation to deduct TDS.

64

judgments rely on this decision, according to BharatTax’s citation analysis of 366,470 Indian tax judgments — from 2016 to 2024.

Also referred to as

Karnataka Power Transmission Corporation Ltd v DCIT · Section 194A · Section 2(28A) · TDS on interest · obligation to deduct tax at source · interest as income · character of income · interest definition · tax deduction on interest payments · income tax deduction at source

Sections most often in play

Section 1961Section 194ASection 2(28A)Section 201(1A)Section 132Section 195Section 201(1)Section 4

Issues it is cited on

section 40a(i)tds on commissionsection 192(1)section 4(1)section 194a(1)section 193section 4(2)section 191section 133a(2a)interest under section 201(1a)section 194jsection 2(28a)

Judgments citing Karnataka Power Transmission Corporation Ltd. v. DCIT

Alliance Media & Entertainment P.Ltd, Mumbai vs. ITO (TDS) 1(1), Mumbai

ITA 5947/MUM/2014[2008-09]Status: DisposedITAT Mumbai08 Feb 2017AY 2008-09

Bench: Shri R.C. Sharma, Am & Shri Ravish Sood, Jm Assessment Year: 2008-09 Alliance Media & Entertainment Ltd. Ito (Tds) 1(1), C/O. Natvarvepari& Co. 8Th Floor, Room No. 804, Oricon House, 4Th Floor, Vs. Ayurvedic Hospital Bldg., 12K. Dubhash Marg Fort Charni Road (W). Mumbai- 400023. Mumbai. Pan No. Aafca3197A (Appellant) (Respondent) Assessment Year: 2008-09 Ito (Tds) 1(1), Alliance Media & Entertainment Ltd. 8Th Floor, Room No. 804, Vs. C/O. Natvarvepari& Co. Ayurvedic Hospital Bldg. Oricon House, 4Th Floor, Charni Road (W) 12K, Dubhash Marg Fort Mumbai. Mumbai-400023. Pan No. Aafca3197A (Appellant) (Respondent)

For Appellant: Ms. Ruchi TamhankarFor Respondent: Sh. Tufail A. Khan
Section 133ASection 201Section 201(1)Section 40

…the tax deductor. That our aforesaid observations stands fortified by the Judgment of the Hon’ble Karnataka High Court and an order of a coordinate bench of the ITAT, Mumbai, as under:- (i).Karnataka Power Transmission Corporation Ltd. Vs. DCIT (TDS) (2016) 383 ITR 59 (Kar) Held: “We have examined the applicability of section 194A of the Act to the present case. Section 194A of the Act mandates the tax deductor to deduct "income-tax" on “any income by way of interest other than income by way of interest on securities". The phrase "any income" and "income-tax thereon" if read harmoniously, it would indicate tha…

Asst CIT (TDS) 2((2), Mumbai vs. Piramal Healthcare Ltd, Mumbai

In the result, the appeal of the Revenue is dismissed and both the appeals of the assessee are allowed for statistical purposes

ITA 3125/MUM/2014[2009-10]Status: DisposedITAT Mumbai26 Jul 2016AY 2009-10

Bench: Sri Mahavir Singh & Sri Manoj Kumar Aggarwal

Section 201Section 201(1)Section 40

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, MUMBAI BEFORE SRI MAHAVIR SINGH, JUDICIAL MEMBER AND SRI MANOJ KUMAR AGGARWAL, ACCOUNTANT MEMBER ITA No.2630 and 2631/Mum/2014 (A.Y.:2007-08 and 2009-10) M/s. Piramal Health Care Ltd., Vs. The Asst. Commissioner of Income Tax (TDS)-2 (2), Room No.703, 7th (Now known as M/s. Piramal Enterprises Ltd.) Piramal Tower floor, Smt. K. G. Mittal Ayurvedic Annexe, Ganpatrao Kadam Marg, Hospital Building,Charni Road, Lower Parel(W),Mumbai -13 Mumbai 400002 PAN:AAACN 4538P Appellant .. Respondent The Asst. Commissioner of Income Tax Vs. M/s. Piramal Health Care (TDS)-2 (2), Ro…

Piramal Healthcare Ltd, Mumbai vs. Asst CIT (TDS) 2(2), Mumbai

In the result, the appeal of the Revenue is dismissed and both the appeals of the assessee are allowed for statistical purposes

ITA 2630/MUM/2014[2009-10]Status: DisposedITAT Mumbai26 Jul 2016AY 2009-10

Bench: Sri Mahavir Singh & Sri Manoj Kumar Aggarwal

Section 201Section 201(1)Section 40

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, MUMBAI BEFORE SRI MAHAVIR SINGH, JUDICIAL MEMBER AND SRI MANOJ KUMAR AGGARWAL, ACCOUNTANT MEMBER ITA No.2630 and 2631/Mum/2014 (A.Y.:2007-08 and 2009-10) M/s. Piramal Health Care Ltd., Vs. The Asst. Commissioner of Income Tax (TDS)-2 (2), Room No.703, 7th (Now known as M/s. Piramal Enterprises Ltd.) Piramal Tower floor, Smt. K. G. Mittal Ayurvedic Annexe, Ganpatrao Kadam Marg, Hospital Building,Charni Road, Lower Parel(W),Mumbai -13 Mumbai 400002 PAN:AAACN 4538P Appellant .. Respondent The Asst. Commissioner of Income Tax Vs. M/s. Piramal Health Care (TDS)-2 (2), Ro…

M/S Te Connectivity India Private Limited, Bangalore vs. CIT, Bangalore

In the result, the appeal filed by the assessee-company is allowed

ITA 3/BANG/2015[2012-13]Status: DisposedITAT Bangalore25 May 2016AY 2012-13

Bench: Shri Vijay Pal Rao & Shri Inturi Rama Raom/S.Te Connectivity India Pvt. Ltd. ‘Te’ Park, 22B, Doddenakundi 2Nd Phase, Industrial Area, Whitefield Road, Bangalore-560048. … Appellant Pan: Aabct 7374 C Vs. Income-Tax Officer (Ltu)(Tds) Bangalore. … Respondent

For Appellant: Shri Pravin Kishore Prasad, CAFor Respondent: Shri Sunil Kumar Agarwala, JCIT(DR)
Section 133(6)Section 201Section 250

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘C’ BENCH, BANGALORE BEFORE SHRI VIJAY PAL RAO, JUDICIAL MEMBER and SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER M/s.TE Connectivity India Pvt. Ltd. ‘TE’ Park, 22B, Doddenakundi 2nd Phase, Industrial Area, Whitefield Road, Bangalore-560048. … Appellant PAN: AABCT 7374 C Vs. Income-tax Officer (LTU)(TDS) Bangalore. … Respondent Appellant by : Shri Pravin Kishore Prasad, CA. Respondent by : Shri Sunil Kumar Agarwala, JCIT(DR) Date of hearing : 25/04/2016 Date of pronouncement : 25/05/2016 O R D E R Per INTURI RAMA RAO, AM : This is an appeal filed by the assessee-company direc…