SRF Finance Ltd. v. CBDT

211 ITR 861High Court1995#15301 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2014 to 2018.

Judgments citing SRF Finance Ltd. v. CBDT

Hero Motocorp Ltd., New Delhi vs. Addl.CIT, Range-11, New Delhi

In the result ground No

ITA 6990/DEL/2017[2013-14]Status: DisposedITAT Delhi20 Jun 2018AY 2013-14

Bench: Shri R. K. Panda & Ms Suchitra Kamblei.T.A. No. 6990/Del/2017 (A.Y 2013-14)

Section 143(3)Section 144C

…specialized skills. Having reached the aforesaid conclusion, it would be pertinent to understand the meaning of contract for carrying out work used in section 194C of the Act. The decision of Hon’ble Delhi High Court in the case of SRF Finance Ltd. v. CBDT : 211 ITR 861, wherein the Court explained the meaning of ‘contract for carrying out any work’ and distinguished the same with a ‘service contract’. The relevant observations of the Court are as under: "The two words convey different ideas. In the former (i.e., `work') the activity is predominantly physical; it is tangible. In the activity referred as `service…

Hero Motocorp Ltd., New Delhi vs. DCIT, New Delhi

In the result appeal No. 2424/Del/ 2015 filed by the revenue in assessment year 2010-11 is partly allowed

ITA 1616/DEL/2017[2012-13]Status: DisposedITAT Delhi13 Jun 2018AY 2012-13

Bench: Shri R. K. Panda & Ms Suchitra Kamble

Section 143(3)Section 144CSection 92C

Icici Securities Ltd, Mumbai vs. DCIT RG 4(1), Mumbai

In the result, the appeal for the AY 2010-11 is partly allowed

ITA 4269/MUM/2013[2009-10]Status: DisposedITAT Mumbai19 Mar 2018AY 2009-10

Bench: Shri C.N. Prasad () & Shri N.K. Pradhan () Assessment Year: 2009-10 & Assessment Year: 2010-11 Icici Securities Ltd. Dy. Commissioner Of Icici Centre, H.T. Parekh Income Tax Range Vs. Marg, Churchgate, 4(1), Mumbai-400020. Mumbai. Pan No. Aaaci0996E (Appellant) (Respondent) Assessee By : Mr. Yogesh A. Thar, Ar Revenue By : Mr. M.C. Omi Ningshen, Dr

For Appellant: Mr. Yogesh A. Thar, ARFor Respondent: Mr. M.C. Omi Ningshen, DR

Section 143(3)Section 40Section 40a

…Securities 16.3.1 The Ld. counsel further submits that the provisions of section 194C excludes commission or brokerage paid on securities. Reliance is placed by him on the CBDT Circular No. 715 dated 08.08.1995 and the decision in S.R.F. Finance Ltd. v. CBDT (211 ITR 861) (Del) and Gujarat Federation of Tax Consultants v. CBDT (214 ITR 276) (Guj.). 16.4 On the other hand, the Ld. DR supports the order passed by the Ld. CIT(A). 16.5 We have heard the rival submissions and perused the relevant materials on record. The reasons for our decisions are given below. The primary facts on the above ground of appeal can be…

DCIT RG 8(1), Mumbai vs. Aditya Birla Money Insurance Advisory Services Ltd, Mumbai

ITA 2252/MUM/2014[2009-10]Status: DisposedITAT Mumbai19 Apr 2017AY 2009-10

For Appellant: Ms. Krupa R. Gandhi & Ms. Ritu PunjabiFor Respondent: Shri Rajesh Kumar Yadav

Section 143Section 254(1)Section 40

…re used in section 194C of the act meant labour contracts and not the service contracts,that no disallow -ance could be made if the recipient had paid the taxes.It relied upon the case of Siemens (supra),OCB Engineers(214taxman121)and SRF Finance company Ltd.(211 ITR 861). 5.We have heard the rival submissions and perused the material before us. We find that the assessee had made payments to its holding company,that the AO held that provisions of section 194C were applicable,that the assessee had to deduct tax at source for the payments made by it to the holding company,that he made a disallowance of Rs. 1.18 cr…

Hero Motocorp Limited, New Delhi vs. JCIT, New Delhi

In the result appeal of the assessee in ITA No

ITA 1545/DEL/2015[2010-11]Status: DisposedITAT Delhi24 Oct 2016AY 2010-11

Bench: Sh. I. C. Sudhir & Shri Prashant Maharishihero Motocorp Limited, Jcit, 34, Basant Lok, Vasant Range-1, New Delhi Vs. Vihar, New Delhi Pan: Aaach0812J (Appellant) (Respondent) Dcit, M/S. Hero Moto Corp. Circle-11(1), Ltd., 34, Community Vs. New Delhi Centre, Basant Lok, Vasant Vihar, New Delhi-110057 (Appellant) (Respondent) Dcit, M/S. Hero Moto Corp. Circle-11(1), Ltd., 34, Community

For Appellant: Sh. Ajay Vohra, Sr. AdvFor Respondent: Sh. NC Sawain, CIT DR

Section 143Section 143(3)Section 144CSection 92C

…ell within the meaning of ‗contract for carrying out work‘ under section 194C and were not in the nature of service contract, much less professional / technical services covered under section 194J of the Act. [refer Del HC in case of SRF Finance Ltd. v. CBDT: 211 ITR 861] d) Analogy for the aforesaid can also be drawn from Circular No.715, dated 8.8.1995, issued by CBDT wherein for contract entered by an appellant with advertising agencies, it has been opined, that such composite contract falls within the meaning of ‗contract for carrying out work‘ under section 194C of the Act. e) The aforesaid two expressions,…

Commissioner of Income Tax vs. Opera Global Pvt Ltd

ITA/359/2012HC Delhi25 Aug 2014

Section 115JSection 194CSection 40

…ted payer at the rate of 1 or 2 per cent. 5. The expression „carrying out any work‟ or the word „work‟ was interpreted by the Delhi High Court, for the purpose of the said Section, in S.R.F. Finance Ltd. Vs. Central Board of Direct Taxes and Ors [1995] 211 ITR 861, to exclude professional services. It was observed, the said expression and word was wide enough to include any kind of work which could be undertaken by another, but was restricted to the work which was to be carried out. Therefore, it would not include brokerage paid to the broker who procured or secured fixed deposits from third parties…