Section 10(15)(iv)(c) — 7 judgments | BharatTax

ACIT CIR 2(1)(1), MUMBAI vs. BANK OF BARODA, MUMBAI

In the result, the appeal by the Revenue is dismissed

ITA 2777/MUM/2019[2016-17]Status: DisposedITAT Mumbai06 Feb 2025AY 2016-17

Bench: Shri Amarjit Singhshri Sandeep Singh Karhailbank Of Baroda, C-26, G-Block, Baroda Corporate Centre, Bandra Kurla Complex, Bandra (East), Mumbai-400051. ……………. Appellant Pan: Aaacb 1534 F V/S Acit, 2(1)(1), ……………. Respondent Mumbai-400051. Acit, Circle - 2(1)(1), Room No. 561, 5Th Floor, Aayakar Bhavan, M.K. Road, ……………. Appellant Mumbai-400020. V/S Bank Of Baroda, C-26, G-Block, Baroda Corporate Centre, Bandra ……………. Respondent Kurla Complex, Bandra (East), Mumbai-400051. Pan: Aaacb 1534 F

For Appellant: Mr. C. NareshFor Respondent: Mr. Kailash C. Kanojiya, CIT-DR

Section 115JSection 143(3)Section 14ASection 250

IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, MUMBAI BEFORE SHRI AMARJIT SINGH, ACCOUNTANT MEMBER SHRI SANDEEP SINGH KARHAIL, JUDICIAL

EXIMCORP INDIA (P) LTD. ,KOLKATA vs. ACIT,CIR-5(2),KOLKATA. , KOLKATA

In the result, the appeal of the assessee is dismissed

ITA 702/KOL/2023[2016-17]Status: DisposedITAT Kolkata05 Aug 2024AY 2016-17

Bench: Sri Rajpal Yadav, Vice- & Sri Sanjay Awasthi

Section 115JSection 195Section 195(1)Section 2Section 40

amended on 18- 9-2003 with effect from 1-4-1983. By reason of said amendment, Explanation 2 was added to section 10(15)(iv)(c), which reads as under: "Explanation 2—For the removal of doubts, it is hereby declared that the usance interest payable outside India ... favour of the assessee and against the Department. The assessee was not bound to deduct tax at source once Explanation 2 to section 10(15)(iv)(c) stood inserted as TDS arises only if the tax is assessable in India. Since tax was not assessable in India, there

EXIMCORP INDIA PRIVATE LIMITED. ,KOLKATA vs. ACIT,CIR-5(2),KOLKATA. , KOLKATA

In the result, the appeal of the assessee is dismissed

ITA 701/KOL/2023[2015-16]Status: DisposedITAT Kolkata05 Aug 2024AY 2015-16

Bench: Sri Rajpal Yadav, Vice- & Sri Sanjay Awasthi

Section 115JSection 195Section 195(1)Section 2Section 40

amended on 18- 9-2003 with effect from 1-4-1983. By reason of said amendment, Explanation 2 was added to section 10(15)(iv)(c), which reads as under: "Explanation 2—For the removal of doubts, it is hereby declared that the usance interest payable outside India ... favour of the assessee and against the Department. The assessee was not bound to deduct tax at source once Explanation 2 to section 10(15)(iv)(c) stood inserted as TDS arises only if the tax is assessable in India. Since tax was not assessable in India, there

ACIT-2(1)(1), AAYKAR BHAVAN, MUMBAI vs. BANK OF BARODA, BKC, MUMBAI

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

ITA 3412/MUM/2023[2013-14]Status: DisposedITAT Mumbai10 Jul 2024AY 2013-14

Bench: Shri Amarjit Singh & Shri Raj Kumar Chauhan, Ita Nos.3409 & 3412/Mum/2023 (A.Ys. 2010-11 & 2013-14) Acit, Circle 2(1)(1) Vs. M/S Bank Of Baroda Room No. 575, 5Th Floor, 2Nd Floor, Baroda Aayakar Bhavan, Corporate Centre, C-26, M.K. Road, G Block, Bkc, Bandra Mumbai – 400 020 East, Mumbai- 400051 "थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aaacb1534F Appellant .. Respondent

For Appellant: C. NareshFor Respondent: S. Srinivasu

Section 10(15)(iv)Section 143(3)Section 144Section 14A

P a g e | 1 ITA Nos. 3409 & 3412/Mum/2023 ACIT, Circle 2(1)(1) Vs. M/s Bank of Baroda IN

ACIT-2(1)(1), MUMBAI, MUMBAI vs. BANK OF BARODA, BKC, MUMBAI

ITA 3409/MUM/2023[2010-11]Status: DisposedITAT Mumbai10 Jul 2024AY 2010-11

Bench: Shri Amarjit Singh & Shri Raj Kumar Chauhan

For Appellant: C. NareshFor Respondent: S. Srinivasu

Page 1 ITA Nos. 3409 & 3412/Mum/2023 ACIT, Circle 2(1)(1) Vs. M/s Bank of Baroda IN THE INCOME TAX

COMMISSIONER OF INCOME TAX DELHI- II vs. M/S KOHINOOR IMPEX P. LTD.

ITA - 179 / 2001HC Delhi28 Aug 2014

Section 143(3)Section 195Section 263Section 40Section 80HSection 9(1)(i)Section 9(1)(v)Section 95

However, the Supreme Court did not examine the issue on merits in view of the Explanation 2 to Section 10(15)(iv)(c) of the Act applicable to ship breaking industry, to the effect that usance interest 2014:DHC:4226-DB ITA 179/2001 Page 5 of 8 payable outside India ... interest, then another aspect which required examination was whether the amount would be covered and exempt from payment of tax under Section 10(15)(iv)(c) of the Act, in which case tax at source was not required to be deducted. 8. Revenue is the appellant before

COMMISSIONER OF INCOME TAX vs. CARGILL GLOBAL TRADING PVT LTD

ITA - 331 / 2011HC Delhi17 Feb 2011

Section 195Section 2Section 37(1)Section 40

undertaking engaged in the business of ship breaking is exempt from payment of income-tax by virtue of Expln. 2 added to Section 10(15)(iv)(c) with retrospective effect from 1st April, 1962 and hence the assessee was not liable to deduct tax at source under Section

“Section 10(15)(iv)(c)”