Ltd. v. DCIT

272 ITR 605Reported decision2015#4940 most cited

What is Ltd. v. DCIT authority for?

With the introduction of the explanation to section 92B of the Act, any delay in the realization of credit from the sale of goods or services rendered in business is subject to transfer pricing adjustment for interest income that was short-charged or uncharged. Consequently, the assessee cannot question whether interest on outstanding receivables is an international transaction requiring separate benchmarking.

24

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2016 to 2025.

Also referred to as

Bhatia Airtel Services Ltd vs DCIT · section 92B · explanation to section 92B · interest on outstanding receivables · transfer pricing adjustment · delayed realization of credit · interest income short charged · benchmarking

Also reported as

126 Taxmann.com 315

Sections most often in play

Section 1961Section 115JB of the Income Tax ActSection 143(2) of the Income Tax ActSection 143(3) r.w.s. 144C(3) of the Income Tax ActSection 1962Section 92B of the Income Tax Act

Issues it is cited on

interest on outstanding receivablessection 36(l)(iii)project completion methodsection 36(l)percentage completion methodsection 245dsection 92bcorporate guaranteeweighted deductionsection 35(2ab)section 43(1)section 36(1)(iii)

Judgments citing Ltd. v. DCIT

Almatis Alumina Private Ltd, Kolkata vs. DCIT, Circle-8(1), Kolkata

In the result, boththe appeals of the assessee in ITA No

ITA 2361/KOL/2017[2013-14]Status: DisposedITAT Kolkata16 Apr 2019AY 2013-14

Bench: Shri S.S.Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita Nos.726&2361/Kol/2017 ("नधा"रणवष" / Assessment Years: 2012-13& 2013-14)

For Appellant: Shri J.P. Khaitan, Sr. AdvocateFor Respondent: Shri P.K. Srihari, CIT DR
Section 143(1)Section 143(3)Section 144CSection 144C(1)Section 144C(13)Section 271(1)Section 92CSection 92E

…IN THE INCOME TAX APPELLATE TRIBUNAL “C”, BENCH KOLKATA BEFORE SHRI S.S.GODARA, JM &DR. A.L.SAINI, AM आयकरअपीलसं./ITA Nos.726&2361/Kol/2017 ("नधा"रणवष" / Assessment Years: 2012-13& 2013-14) Almatis Alumina Pvt. Ltd. Vs. DCIT, Circle-8(1), Kolkata Kankaria Estate, 2nd Floor, 6, Russel Street, Kolkata-700071. "थायीलेखासं./जीआइआरसं./PAN/GIR No.: AACCA 2120 N (Assessee) .. (Revenue) Assessee by :Shri J.P. Khaitan, Sr. Advocate Respondent by : Shri P.K. Srihari, CIT DR सुनवाईक"तार"ख/ Date of Hearing : 14/01/2019 घोषणाक"तार"ख/Date of Pronouncement : 16/04/2019 आदेश / O R D E R Per Dr. A. L. Saini: The captioned…

At&S India Private Limited, Karnataka vs. D.C.I.T., Circle-11(1), Kolkata

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

ITA 69/KOL/2018[2013-14]Status: DisposedITAT Kolkata10 Oct 2018AY 2013-14

Bench: Shri S. S. Godara, Jm & Dr. A.L.Saini, Am At&S India Private Limited Vs. Dcit, Circle 11(1), Kolkata P-7, Chowringhee Square, 12A, Industrial Area, Nanjangud – 571 301 Kolkata – 700 069. Mysore District, Karnataka, India "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaeca 2930 J (अपीलाथ" /Appellant) (""यथ" / Respondent) ..

For Appellant: Shri Anup Sinha & Ms. Rituparna Sinha, ARFor Respondent: Shri P.K. Srihari, CIT, DR
Section 143(3)Section 144C(13)Section 37(1)Section 92C

…IN THE INCOME TAX APPELLATE TRIBUNAL “C”, BENCH KOLKATA BEFORE SHRI S. S. GODARA, JM & DR. A.L.SAINI, AM AT&S India Private Limited Vs. DCIT, Circle 11(1), Kolkata P-7, Chowringhee Square, 12A, Industrial Area, Nanjangud – 571 301 Kolkata – 700 069. Mysore District, Karnataka, India "थायी लेखा सं./जीआइआर सं./PAN/GIR No. : AAECA 2930 J (अपीलाथ" /Appellant) (""यथ" / Respondent) .. Appellant by : Shri Anup Sinha & Ms. Rituparna Sinha, AR Revenue by : Shri P.K. Srihari, CIT, DR सुनवाई क" तार"ख / Date of Hearing : 16/08/2018 घोषणा क" तार"ख/Date of Pronouncement: 10/10/2018 आदेश / O R D E R Per Dr. Arjun Lal Saini, A…

At&S India Private Limited vs. D.C.I.T., Circle-11(1), Kolkata

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

ITA 77/KOL/2017[2012-13]Status: DisposedITAT Kolkata11 May 2018AY 2012-13

Bench: Shri A. T. Varkey, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.77/Kol/2017 ("नधा"रणवष" / Assessment Year: 2012-13) At & S India (P) Ltd. Vs. D.C.I.T, Circle-11(1), Kolkata

For Appellant: Smt. Rituparna Sinha, ARFor Respondent: Shri G. Mallikarjuna, CIT(DR)
Section 143(3)Section 144CSection 37Section 92C

…IN THE INCOME TAX APPELLATE TRIBUNAL “C”, BENCH KOLKATA BEFORE SHRI A. T. VARKEY, JM &DR. A.L.SAINI, AM आयकरअपीलसं./ITA No.77/Kol/2017 ("नधा"रणवष" / Assessment Year: 2012-13) AT & S India (P) Ltd. Vs. D.C.I.T, Circle-11(1), Kolkata Aayakar Bhawan, P-7, 12A Industrial Area, Nanjangud – 571301, Mysore District, Karnataka, Chowringhee Square, India. Kolkata – 700 069. "थायीलेखासं./जीआइआरसं./PAN/GIR No. :AAECA 2930 J (Appellant) .. (Respondent) Appellant by :Smt. Rituparna Sinha, AR Respondent by :Shri G. Mallikarjuna, CIT(DR) सुनवाईक"तार"ख/ Date of Hearing : 05/04/2018 घोषणाक"तार"ख/Date of Pronouncement : 11/05/2…

At & S India Pvt. Ltd., Karnataka vs. DCIT, Cir-11(1), Kolkata

In the result, assessee’s appeal stands allowed

ITA 179/KOL/2016[2011-2012]Status: DisposedITAT Kolkata03 Aug 2016AY 2011-2012

Bench: Shri Waseem Ahmed & Shri S.S.Viswanethra Raviassessment Years:2011-12

Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCH “C” KOLKATA Before Shri Waseem Ahmed, Accountant Member and Shri S.S.Viswanethra Ravi, Judicial Member Assessment Years:2011-12 AT & S India Pvt. Ltd. DCIT, Circle-11(1), बनाम 12A Industrial Area, Aayakar Bhawan, P-7, / V/s. Nanjangud – 571301, Chowringhee Square, Mysore Dist. Karnataka, Kolkata-700 069 [PAN No.AAECA 2930 J] .. अपीलाथ" /Appellant ""यथ" /Respondent Shri Soumitra Choudhury, Advocate अपीलाथ" क" ओर से/By Appellant & Smt. Rituparn Singh, AR Shri G. Mallikarjula, CIT-DR ""यथ" क" ओर से/By Respondent 24-06-2016 सुनवाई क" तार"ख/Date of Hearing 03-08-2…