M/S. SRI BALAJI PRASANNA TRAVELS,BENGALURU vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE- 6(3)(1), BENGALURU

In the result, assessee’s appeal is partly allowed for statistical purposes

Bench: Shri N.V. Vasudevan & Shri Chandra Poojariassessment Year: 2015-16

206C relating to TCS for clarifying the deemed date of discharge of tax liability by the buyer or licensee or lessee. These amendments will take effect from 1st July, 2012. II. Disallowance of business expenditure on account of non- deduction of tax on payment to resident payee. A related issue to the above is the disallowance under section

M/S. KARNATAKA STATE BEVERAGES CORPORATION LIMITED,BANGALORE vs. THE PRINCIPAL COMMISSIONER OF INCOME TAX, BANGALORE - 4, BANGALORE

In the result, the appeal filed by the assessee stands partly allowed

disallowing interest of Rs.201.88 lakhs on delayed payment of TCS under section 206C of the Act is legally incorrect as well on the facts and circumstances of the case. 13. The learned Pr. Commissioner of Income-tax erred in holding that twin conditions contemplated in section 263 of Page 4 of 15 the Act are satisfied in the present case