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“Section 199(3)”

Section References (mined)Section 199Section 199(3)40 judgments

The decision most relied on for Section 199(3) is CIT v. Bokaro Steel Ltd. (236 ITR 315), cited in 370 judgments on BharatTax.

Leading authorities on Section 199(3)

CIT v. Bokaro Steel Ltd.
236 ITR 315 · 1999 · Supreme Court
370
citing judgments

Interest earned during the pre-commencement period of a project, on advances made to contractors or on unutilized borrowed funds, if inextricably linked to the setting up of the plant, constitutes a capital receipt. Such interest is not taxable as income but can be reduced from the capital work-in-progress.

288), Pr.CIT v. Best Infrastructure (I) Pvt Ltd (
241 Taxmann 199 · 2016 · High Court
147
citing judgments

Statements recorded under Section 132(4) cannot alone constitute incriminating material to justify additions in unabated assessments. Corroboration is generally required for such statements to form the sole basis of additions.

CIT v. Salora International Ltd.
308 ITR 199 · 2009 · High Court
103
citing judgments

Advertisement and brand promotion expenses are revenue in nature; merely improving brand recognition or deriving an enduring benefit does not automatically convert them into capital expenditure.

CIT v. Calcutta Discount Co. Ltd.
39 ITR 706 · 1960 · High Court
103
citing judgments

The law does not oblige a trader to make maximum profit out of his trading transactions. Profits charged to tax must be in accordance with law and not amount to taxing notional income.

HT Media Ltd. v. Pr. Commissioner of Income Tax
85 Taxmann.com 113 · 2017 · High Court
69
citing judgments

The Assessing Officer must record objective satisfaction, based on objective analysis and cogent reasons, before invoking Section 14A and applying Rule 8D for disallowing expenditure related to exempt income. Furthermore, disallowance under Section 14A applies only to investments that have actually yielded exempt income during the relevant assessment year.

CIT v. Glenmark Pharmaceuticals Ltd.
324 ITR 199 · 2010 · High Court
69
citing judgments

A taxpayer is eligible for deduction under Section 80IA for developing and operating infrastructure facilities, with the decision clarifying the distinction between a contractor and a developer for this purpose.

KeshrichandJaisukhlal v. CIT
199 ITR 702 · 1993 · High Court
62
citing judgments

Notional income, such as notional interest on interest-free loans, cannot be brought to tax without a specific statutory provision in the Income Tax Act. Only real income that has accrued or been received by the assessee is subject to income tax.

Aggarwal: 369 ITR 171 (AP) CIT vs. Harjeev Aggarwal 241 Taxman 199 (Del) Chetnaben J. Shah v. ITO
390 ITR 189 · 2017 · High Court
49
citing judgments

Additions to income cannot be made solely based on a statement recorded under Section 132(4) during a search operation. Corroborative material or documentary evidence is essential to support any adverse decision against the assessee.

Judgments citing Section 199(3)

Dy Comm of Income Tax-14(1)(2), Mumbai vs. M/S Reliance Infrastructure Ltd., Mumbai

In the result, both the appeals of the Revenue are dismissed

ITA 234/MUM/2023[2020-21]Status: DisposedITAT Mumbai16 May 2023AY 2020-21
Section 143(1)Section 199(3)

allowing the appeal of the assessee to grant the claim of TDS to a person other than the deductee as per section 199(3) of the Act wherein the section 199(3) is to be read with rule 37BA of the Act in such cases and the conditions mentioned ... deduction on the payment of tax who has offered the income. Rule 37BA which has been framed by the CBDT in terms of section 199(3) provides credit for tax deducted at source for the purpose of Section 199, which reads as under:- M/s. Reliance Infrastructure Ltd. “37BA (1) Credit

Dy Comm of Income Tax-14(1)(2), Mumbai vs. M/S Reliance Infrastructure Ltd., Mumbai

In the result, both the appeals of the Revenue are dismissed

ITA 233/MUM/2023[2020-21]Status: DisposedITAT Mumbai16 May 2023AY 2020-21
Section 143(1)Section 199(3)

allowing the appeal of the assessee to grant the claim of TDS to a person other than the deductee as per section 199(3) of the Act wherein the section 199(3) is to be read with rule 37BA of the Act in such cases and the conditions mentioned ... deduction on the payment of tax who has offered the income. Rule 37BA which has been framed by the CBDT in terms of section 199(3) provides credit for tax deducted at source for the purpose of Section 199, which reads as under:- M/s. Reliance Infrastructure Ltd. “37BA (1) Credit

Cae Simulation Training P.Ltd, New Delhi vs. DCIT, New Delhi

In the result, the appeal of the assessee is allowed for statistical purposes

ITA 913/DEL/2022[2020-21]Status: DisposedITAT Delhi24 Mar 2023AY 2020-21

Bench: Shri Anil Chaturvedi & Shri C.M. Garg

For Appellant: Shri Nagesh Behl, AdvocateFor Respondent: Shri Pankaj Khanna, Sr. DR
Section 199Section 199(3)

assessee that when the issue of availability of TDS credit in the appropriate assessment year is examined in the light of Section 199(3) r.w. Rule 37BA(3) of the Income Tax Rules, it would be clear that credit for tax deducted at source and paid to the Central Government ... deductor when the accrued income from such transaction has been reported in the earlier assessment year. 6. A combined reading of Section 199(3) r.w. Rule 37BA(3) makes the position of law clear that credit for TDS is available in the year in which the income is reported

Cae Simulation Training P.Ltd, New Delhi vs. DCIT, New Delhi

In the result, the appeal of the assessee is allowed for statistical purposes

ITA 912/DEL/2022[2018-19]Status: DisposedITAT Delhi24 Mar 2023AY 2018-19

Bench: Shri Anil Chaturvedi & Shri C.M. Garg

For Appellant: Shri Nagesh Behl, AdvocateFor Respondent: Shri Pankaj Khanna, Sr. DR
Section 199Section 199(3)

assessee that when the issue of availability of TDS credit in the appropriate assessment year is examined in the light of Section 199(3) r.w. Rule 37BA(3) of the Income Tax Rules, it would be clear that credit for tax deducted at source and paid to the Central Government ... deductor when the accrued income from such transaction has been reported in the earlier assessment year. 6. A combined reading of Section 199(3) r.w. Rule 37BA(3) makes the position of law clear that credit for TDS is available in the year in which the income is reported

Cae Simulation Training P.Ltd, New Delhi vs. DCIT, New Delhi

In the result, the appeal of the assessee is allowed for statistical purposes

ITA 911/DEL/2022[2016-17]Status: DisposedITAT Delhi24 Mar 2023AY 2016-17

Bench: Shri Anil Chaturvedi & Shri C.M. Garg

For Appellant: Shri Nagesh Behl, AdvocateFor Respondent: Shri Pankaj Khanna, Sr. DR
Section 199Section 199(3)

assessee that when the issue of availability of TDS credit in the appropriate assessment year is examined in the light of Section 199(3) r.w. Rule 37BA(3) of the Income Tax Rules, it would be clear that credit for tax deducted at source and paid to the Central Government ... deductor when the accrued income from such transaction has been reported in the earlier assessment year. 6. A combined reading of Section 199(3) r.w. Rule 37BA(3) makes the position of law clear that credit for TDS is available in the year in which the income is reported

Madhu Kumar Patel, Hyderabad vs. ADIT, (Int. Taxn)-2, Hyderabad

In the result, the appeal of the assessee is allowed for statistical purposes

ITA 395/HYD/2022[2015-16]Status: DisposedITAT Hyderabad26 Dec 2022AY 2015-16

Bench: Shri R.K. Panda & Shri K. Narasimha Charyassessment Year:2015-16 Shri Madhu Kumar Patel Vs. A.D.I.T (Intl.Taxation)-2 Hyderabad Hyderabad Pan:Bvdpp3797G (Appellant) (Respondent) Assessee By: Shri K.A. Sai Prasad, Ca Revenue By: Shri Rajendra Kumar, Cit(Dr) Date Of Hearing: 10/11/2022 Date Of Pronouncement: 26/12/2022 Order Per R.K. Panda, A.M This Appeal Filed By The Assessee Is Directed Against The Order Dated 19.7.2022 Passed U/S 147 R.W.S. 144C(13) Of The I.T. Act For The A.Y 2015-16. 2. Facts Of The Case, In Brief, Are That The Assessee Is An Individual & A Resident Of The U.K. He Filed His Return Of Income On 31.08.2015 Declaring Total Income At Rs.2,91,07,000/- As Income From Long Term Capital Gain.

For Appellant: Shri K.A. Sai Prasad, CAFor Respondent: Shri Rajendra Kumar, CIT(DR)
Section 147Section 148Section 2(47)(v)

assessee that when the issue of availability of TDS credit in the appropriate assessment year is examined in the light of Section 199(3) r.w. Rule 37BA(3) of the Income Tax Rules, it would be clear that credit for tax deducted at source and paid to the Central Government ... deductor when the accrued income from such transaction has been reported in the earlier assessment year. 6. A combined reading of Section 199(3) r.w. Rule 37BA(3) makes the position of law clear that credit for TDS is available in the year in which the income is reported

Bsr Infratech India Limited, Bangalore vs. Deputy Commissioner of Income Tax, Central Circle-2(1), Bangalore

In the result, the appeal of the assessee is partly allowed

ITA 697/BANG/2022[2017-18]Status: DisposedITAT Bangalore27 Oct 2022AY 2017-18

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year: 2017-18

For Appellant: Shri Madhusudhan, A.RFor Respondent: Shri Praveen Karanth, D.R
Section 199Section 234ASection 270ASection 43Section 43C

assessee that when the issue of availability of TDS credit in the appropriate assessment year is examined in the light of Section 199(3) r.w. Rule 37BA(3) of the Income Tax Rules, it would be clear that credit for tax deducted at source and BSR Infratech India Ltd., Bangalore ... deductor when the accrued income from such transaction has been reported in the earlier assessment year. 10.1 A combined reading of Section 199(3) r.w. Rule 37BA(3) makes the position of law clear that credit for TDS is available in the year in which the income is reported

Hampi Expressways Pvt Ltd, Mumbai vs. Dy Commissioner of Income Tax Range-1(1)(2), Mumbai

ITA 895/MUM/2022[2017,-2018]Status: DisposedITAT Mumbai18 Oct 2022
For Appellant: Shri M.M. GolvalaFor Respondent: Shri Tejinder Pal Singh
Section 115JSection 143(3)Section 199Section 234BSection 234D

section (2) and also the assessment year for which such credit may be given. 14. Rule 37BA of the Rules framed under Section 199(3) of the Act (introduced with effect from 01-04-2009 by Income Tax (Sixth Amendment) Rules, 2009 by the CBDT) is as follows: "Credit

M/S Greatship (India) Ltd, Mumbai vs. Asstt Director of Income Tax, CPC Bagalore Bagalore, Bagalore

In the result, the appeals of the asssessee are allowed

ITA 1293/MUM/2022[2019-20]Status: DisposedITAT Mumbai14 Oct 2022AY 2019-20

Bench: Shri Kuldip Singh & Shri Amarjit Singhita Nos. 1292 & 1293/Mum/2022 (A.Ys.2018-19 & 2019-20) M/S Greatship (India) Vs. Asst. Director Of Income- Ltd. C/O Kalyaniwalla & Tax, Cpc, Bangalore, Mistry Llp, Esplanade Karnataka - 560500 House, 29, Hazarimal Somani Marg, Fort, Mumbai – 400001 स्थायी लेखा सं./जीआइआर सं./ Pan/Gir No: Aabcg8542K Appellant .. Respondent

For Appellant: Akram Khan &For Respondent: Harmesh Lal
Section 143(1)Section 199

issue before us and are unable to persuade ourselves to subscribe to the view taken by the lower authorities. On a perusal of section 199(3) of the Act, we find, that the same reads as under:- “(3) The Board may, for the purposes of giving credit in respect ... corresponding income and the Revenue is contending that such benefit can be given only in the year of deposit of TDS. 5. Section 199(3) of the Act, which is relevant for our purpose, reads as under: “The Board may, for the purposes of giving credit in respect

M/S Greatship (India) Ltd, Mumbai vs. Asstt Director of Income Tax, CPC Bagalore, Bagalore

In the result, the appeals of the asssessee are allowed

ITA 1292/MUM/2022[2018-19]Status: DisposedITAT Mumbai14 Oct 2022AY 2018-19

Bench: Shri Kuldip Singh & Shri Amarjit Singhita Nos. 1292 & 1293/Mum/2022 (A.Ys.2018-19 & 2019-20) M/S Greatship (India) Vs. Asst. Director Of Income- Ltd. C/O Kalyaniwalla & Tax, Cpc, Bangalore, Mistry Llp, Esplanade Karnataka - 560500 House, 29, Hazarimal Somani Marg, Fort, Mumbai – 400001 स्थायी लेखा सं./जीआइआर सं./ Pan/Gir No: Aabcg8542K Appellant .. Respondent

For Appellant: Akram Khan &For Respondent: Harmesh Lal
Section 143(1)Section 199

issue before us and are unable to persuade ourselves to subscribe to the view taken by the lower authorities. On a perusal of section 199(3) of the Act, we find, that the same reads as under:- “(3) The Board may, for the purposes of giving credit in respect ... corresponding income and the Revenue is contending that such benefit can be given only in the year of deposit of TDS. 5. Section 199(3) of the Act, which is relevant for our purpose, reads as under: “The Board may, for the purposes of giving credit in respect

Dz Bank India Representative Office, Mumbai vs. DCIT (It) 2(1)(2), Mumbai

In the result, all the four appeals of the assessee to the extent of In the result, all the four appeals of the assessee to the extent of the recalled grounds, are allowed for statistical purposes

ITA 1815/MUM/2018[2014-15]Status: DisposedITAT Mumbai04 Aug 2022AY 2014-15

Bench: Shri Om Prakash Kant () & Shri Rahul Chaudhary () Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2010-11 & Assessment Year: 2014-15 Dz Bank, India Representative Dcit (International Taxation) Office C/O Srbc & Associates Llp, Range-2(1)(2), 14Th Floor, The Ruby, 29, Senapati Vs. 16Th Floor, Room No. 1612, Air Bapat Marg, Dadar (West), India Building, Nariman Point, Mumbai-400028. Mumbai-400021. Pan No. Aabcd 6455 E Appellant Respondent

For Appellant: Mr. P.J. Pardiwala/Jeet Kamdar, ARFor Respondent: Mr. Somendu Kumar Dash, Sr. DR

respect of tax deducted. The CBDT in facilitating credit to be given in respect of tax deducted. The CBDT in terms of section 199(3) of the Act has framed Rule 37BA. As per terms of section 199(3) of the Act has framed Rule 37BA. As per terms ... section 199(3) of the Act has framed Rule 37BA. As per clause (4) of the Rule 37BA, the credit of the clause (4) of the Rule 37BA, the credit of the tax deducted and paid tax deducted and paid to the Central Government shall be allowed on the basis

Dz Bank India Representative Office, Mumbai vs. DCIT (It) 2(1)(2), Mumbai

In the result, all the four appeals of the assessee to the extent of In the result, all the four appeals of the assessee to the extent of the recalled grounds, are allowed for statistical purposes

ITA 1814/MUM/2018[2010-11]Status: DisposedITAT Mumbai04 Aug 2022AY 2010-11

Bench: Shri Om Prakash Kant () & Shri Rahul Chaudhary () Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2010-11 & Assessment Year: 2014-15 Dz Bank, India Representative Dcit (International Taxation) Office C/O Srbc & Associates Llp, Range-2(1)(2), 14Th Floor, The Ruby, 29, Senapati Vs. 16Th Floor, Room No. 1612, Air Bapat Marg, Dadar (West), India Building, Nariman Point, Mumbai-400028. Mumbai-400021. Pan No. Aabcd 6455 E Appellant Respondent

For Appellant: Mr. P.J. Pardiwala/Jeet Kamdar, ARFor Respondent: Mr. Somendu Kumar Dash, Sr. DR

respect of tax deducted. The CBDT in facilitating credit to be given in respect of tax deducted. The CBDT in terms of section 199(3) of the Act has framed Rule 37BA. As per terms of section 199(3) of the Act has framed Rule 37BA. As per terms ... section 199(3) of the Act has framed Rule 37BA. As per clause (4) of the Rule 37BA, the credit of the clause (4) of the Rule 37BA, the credit of the tax deducted and paid tax deducted and paid to the Central Government shall be allowed on the basis

Dz Bank India Representative Office, Mumbai vs. DCIT (It) 2(1)(2), Mumbai

In the result, all the four appeals of the assessee to the extent of In the result, all the four appeals of the assessee to the extent of the recalled grounds, are allowed for statistical purposes

ITA 1813/MUM/2018[2009-10]Status: DisposedITAT Mumbai04 Aug 2022AY 2009-10

Bench: Shri Om Prakash Kant () & Shri Rahul Chaudhary () Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2010-11 & Assessment Year: 2014-15 Dz Bank, India Representative Dcit (International Taxation) Office C/O Srbc & Associates Llp, Range-2(1)(2), 14Th Floor, The Ruby, 29, Senapati Vs. 16Th Floor, Room No. 1612, Air Bapat Marg, Dadar (West), India Building, Nariman Point, Mumbai-400028. Mumbai-400021. Pan No. Aabcd 6455 E Appellant Respondent

For Appellant: Mr. P.J. Pardiwala/Jeet Kamdar, ARFor Respondent: Mr. Somendu Kumar Dash, Sr. DR

respect of tax deducted. The CBDT in facilitating credit to be given in respect of tax deducted. The CBDT in terms of section 199(3) of the Act has framed Rule 37BA. As per terms of section 199(3) of the Act has framed Rule 37BA. As per terms ... section 199(3) of the Act has framed Rule 37BA. As per clause (4) of the Rule 37BA, the credit of the clause (4) of the Rule 37BA, the credit of the tax deducted and paid tax deducted and paid to the Central Government shall be allowed on the basis

Dz Bank India Representative Office, Mumbai vs. DCIT (It) 2(1)(2), Mumbai

In the result, all the four appeals of the assessee to the extent of In the result, all the four appeals of the assessee to the extent of the recalled grounds, are allowed for statistical purposes

ITA 1812/MUM/2018[2008-09]Status: DisposedITAT Mumbai04 Aug 2022AY 2008-09

Bench: Shri Om Prakash Kant () & Shri Rahul Chaudhary () Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2010-11 & Assessment Year: 2014-15 Dz Bank, India Representative Dcit (International Taxation) Office C/O Srbc & Associates Llp, Range-2(1)(2), 14Th Floor, The Ruby, 29, Senapati Vs. 16Th Floor, Room No. 1612, Air Bapat Marg, Dadar (West), India Building, Nariman Point, Mumbai-400028. Mumbai-400021. Pan No. Aabcd 6455 E Appellant Respondent

For Appellant: Mr. P.J. Pardiwala/Jeet Kamdar, ARFor Respondent: Mr. Somendu Kumar Dash, Sr. DR

respect of tax deducted. The CBDT in facilitating credit to be given in respect of tax deducted. The CBDT in terms of section 199(3) of the Act has framed Rule 37BA. As per terms of section 199(3) of the Act has framed Rule 37BA. As per terms ... section 199(3) of the Act has framed Rule 37BA. As per clause (4) of the Rule 37BA, the credit of the clause (4) of the Rule 37BA, the credit of the tax deducted and paid tax deducted and paid to the Central Government shall be allowed on the basis

Uberoi Sood & Kapoor, New Delhi vs. ACIT, Circle- 63(1), New Delhi

In the result, appeal of the Assessee is allowed

ITA 2642/DEL/2018[2014-15]Status: DisposedITAT Delhi24 Dec 2021AY 2014-15

Bench: Shri R.K. Panda & Shri Narendra Kumar Choudhary

For Appellant: Shri Sanjay Sood, AdvocateFor Respondent: Ms. Sangeeta Yadav, Sr. DR
Section 198Section 199

provides rules relating to have credit for the purpose of section 199 of the Act as is provided in section 199(3) of the Act. Rule 37BA(3)(i) of the Act provides that credit for tax deducted at source and credited to the account of Central Government shall

DCIT, Circle- 11(1), New Delhi vs. Hcl Comnet Systems and Services Ltd., New Delhi

ITA 385/DEL/2018[2013-14]Status: DisposedITAT Delhi25 Aug 2021AY 2013-14

Bench: Shri Anil Chaturvedi & Shri Kuldip Singh(Through Video Conference)

For Appellant: Shri Aditya Vohra, AdvocateFor Respondent: Ms. Anima Baranwal, Senior DR
Section 14A

assessee by returning following findings :- “23. We have given thoughtful consideration to the orders of the authorities below. We -find that section 199(3) of the Act gives power to the Board to make such rules for the purposes of giving credit in respect of tax deducted or tax paid

Hcl Comnet Systems & Services Ltd., New Delhi vs. DCIT, Circle- 11(1), New Delhi

ITA 137/DEL/2018[2014-15]Status: DisposedITAT Delhi25 Aug 2021AY 2014-15

Bench: Shri Anil Chaturvedi & Shri Kuldip Singh(Through Video Conference)

For Appellant: Shri Aditya Vohra, AdvocateFor Respondent: Ms. Anima Baranwal, Senior DR
Section 14A

assessee by returning following findings :- “23. We have given thoughtful consideration to the orders of the authorities below. We -find that section 199(3) of the Act gives power to the Board to make such rules for the purposes of giving credit in respect of tax deducted or tax paid

Hcl Comnet Systems & Services Ltd., New Delhi vs. DCIT, Circle- 11(1), New Delhi

ITA 136/DEL/2018[2013-14]Status: DisposedITAT Delhi25 Aug 2021AY 2013-14

Bench: Shri Anil Chaturvedi & Shri Kuldip Singh(Through Video Conference)

For Appellant: Shri Aditya Vohra, AdvocateFor Respondent: Ms. Anima Baranwal, Senior DR
Section 14A

assessee by returning following findings :- “23. We have given thoughtful consideration to the orders of the authorities below. We -find that section 199(3) of the Act gives power to the Board to make such rules for the purposes of giving credit in respect of tax deducted or tax paid

Hcl Comnet Ltd., New Delhi vs. DCIT, Circle- 11(1), New Delhi

ITA 135/DEL/2018[2013-14]Status: DisposedITAT Delhi25 Aug 2021AY 2013-14

Bench: Shri Anil Chaturvedi & Shri Kuldip Singh(Through Video Conference)

For Appellant: Shri Aditya Vohra, AdvocateFor Respondent: Ms. Anima Baranwal, Senior DR
Section 14A

assessee by returning following findings :- “23. We have given thoughtful consideration to the orders of the authorities below. We -find that section 199(3) of the Act gives power to the Board to make such rules for the purposes of giving credit in respect of tax deducted or tax paid

DCIT, Circle- 11(1), New Delhi vs. Hcl Comnet Systems & Services Ltd., New Delhi

ITA 100/DEL/2018[2014-15]Status: DisposedITAT Delhi25 Aug 2021AY 2014-15

Bench: Shri Anil Chaturvedi & Shri Kuldip Singh(Through Video Conference)

For Appellant: Shri Aditya Vohra, AdvocateFor Respondent: Ms. Anima Baranwal, Senior DR
Section 14A

assessee by returning following findings :- “23. We have given thoughtful consideration to the orders of the authorities below. We -find that section 199(3) of the Act gives power to the Board to make such rules for the purposes of giving credit in respect of tax deducted or tax paid