JC Bamford Investments Ltd. v. DCIT

SUBSCRIBE FOR FULL CONTENT


The Tax Publishers2016 TaxPub(DT) 2148 (Del-Trib) JC Bamford Investments Ltd. v. DCIT INCOME TAX ACT, 1961 --Interest under section 234B--ChargeabilityRoyalty and fees for technical services included in total income----Following the decision of Tribunal in assessee's own case for earlier assessment year, wherein it was held that liability of interest under section 234B did not arise as the assessee had included the royalty and fees for technical services in its total income, interest charged under section 234B was not sustainable. --The issue arose in the instant appeal was whether DRP and AO erred in levying interest under section 234B. *Held:* Following the decision of Tribunal in assessee's own case for earlier assessment year, wherein it was held that liability of interest under section 234B did not arise as the assessee had included the royalty and fees for technical services in its total income, interest charged under section 234B was not sustainable. Income Tax Act, 1961, Section 234B *REFERRED :* FAVOUR : In assessee's favour A.Y. : 2011-12 IN THE ITAT, DELHI 'I-1' BENCH N. K. SAINI, A.M. & BEENA A. PILLAI, J.M. JC Bamford Investments Ltd. v. DCIT ITA No. 738/Del/2016 & Stay Application No. 79/Del/2016 SUBSCRIBE FOR FULL CONTENT

The Tax Publishers2016 TaxPub(DT) 2148 (Del-Trib)

JC Bamford Investments Ltd. v. DCIT

INCOME TAX ACT, 1961

--Interest under section 234B--ChargeabilityRoyalty and fees for technical services included in total income----Following the decision of Tribunal in assessee's own case for earlier assessment year, wherein it was held that liability of interest under section 234B did not arise as the assessee had included the royalty and fees for technical services in its total income, interest charged under section 234B was not sustainable. --The issue arose in the instant appeal was whether DRP and AO erred in levying interest under section 234B. Held: Following the decision of Tribunal in assessee's own case for earlier assessment year, wherein it was held that liability of interest under section 234B did not arise as the assessee had included the royalty and fees for technical services in its total income, interest charged under section 234B was not sustainable.

Income Tax Act, 1961, Section 234B

REFERRED :

FAVOUR : In assessee's favour

A.Y. : 2011-12

IN THE ITAT, DELHI 'I-1' BENCH

N. K. SAINI, A.M. & BEENA A. PILLAI, J.M.

JC Bamford Investments Ltd. v. DCIT

ITA No. 738/Del/2016 & Stay Application No. 79/Del/2016