Search Results Page

Search Results

1 - 7 of 7 (0.03 seconds)
Documents citing M/S Colt Technology Services (I) Pvt ... vs Dcit, New Delhi on 13 April, 2022

Nehal Brothers,Mumbai vs Income Tax Officer 23(2)(1), Mumbai on 25 November, 2024

10. We find that the assessee has filed paper book comprising 1 to 344 before the lower authority and before the ITAT comprising confirmation of lenders financial position of lenders copies of bank statement etc. However, such detail has not been referred 8 MA No. 106/Mum/2024 Nehal Brothers anywhere at para 8 of the ITAT order wherein it is held that assessee has not been able to make out a case either for deleting the addition or for re-verification. Before us, the ld. Counsel referred the decision of the ITAT in the case of Ganita Technologies & Services Pvt. Ltd. vs DCIT 3(1)(1), Mumbai vide M.A. No. 439/Mum/2022 dated 09.11.2023 wherein miscellaneous application filed was allowed after following the decision of Hon'ble Madras High Court in the case of CIT vs Shree Ganesh Ventures (124 taxmann.com 99 (2021) on the issue of material on record which was lost sight of the Tribunal. Accordingly, we recall the order of the ITAT vide ITA No. 2541/M/2023 dated 25.01.2024 to the limited extent of deciding the issue in case of the five lenders as mentioned in para 8 of the order after considering the detail filed by the assessee in the paper book placed before the ITAT as discussed. Accordingly, the miscellaneous application filed by the assessee is partly allowed for statistical purpose in respect of para 2.1(c) of the miscellaneous application pertaining to para 8 of the ITAT order subject to the terms as discussed above.
Income Tax Appellate Tribunal - Mumbai Cites 2 - Cited by 0 - Full Document

M/S Fidelity Information Services ... vs Dcit, Circle 1(1) , Chandigarh on 7 June, 2024

37. It was submitted that the liability to pay interest arises on the ground of failure to pay advance tax and in the instant case, it was submitted that the assessee had no occasion to pre-empt and make the estimate of income for payment of advance tax during F.Y. in respect of additional income pursuant to the advance comprising agreement which has been entered into subsequently after the close of the financial year. It was accordingly submitted that levy of interest under section 234B on the amount of income computed pursuant to APA is against the legislative intent being an act of impossibility to pre-empt enhanced assessed income and therefore interest under section 234B cannot be levied on the amount of declared income offered pursuant to APA and in support, reliance was placed on the decision of Coordinate Delhi Benches in case of Colt Technology Services (I) (P) Ltd. Vs. DCIT [2022] 141 taxmann.com 386 (Delhi). It was accordingly submitted that the cross objection filed by the assessee deserves to be allowed and interest under section 234B levied on the additional income determined pursuant to APA be directed to be deleted.
Income Tax Appellate Tribunal - Chandigarh Cites 41 - Cited by 0 - Full Document

Dcit, C-1(1) , Chandigarh vs M/S Fidelity Information Services ... on 7 June, 2024

37. It was submitted that the liability to pay interest arises on the ground of failure to pay advance tax and in the instant case, it was submitted that the assessee had no occasion to pre-empt and make the estimate of income for payment of advance tax during F.Y. in respect of additional income pursuant to the advance comprising agreement which has been entered into subsequently after the close of the financial year. It was accordingly submitted that levy of interest under section 234B on the amount of income computed pursuant to APA is against the legislative intent being an act of impossibility to pre-empt enhanced assessed income and therefore interest under section 234B cannot be levied on the amount of declared income offered pursuant to APA and in support, reliance was placed on the decision of Coordinate Delhi Benches in case of Colt Technology Services (I) (P) Ltd. Vs. DCIT [2022] 141 taxmann.com 386 (Delhi). It was accordingly submitted that the cross objection filed by the assessee deserves to be allowed and interest under section 234B levied on the additional income determined pursuant to APA be directed to be deleted.
Income Tax Appellate Tribunal - Chandigarh Cites 41 - Cited by 0 - Full Document

Tayal Sons Private Limited,Hisar vs Dcit, Hisar on 28 November, 2025

11. Similar issue came up for consideration before a Division Bench of Bombay High Court in Hexaware Technology Ltd. (supra)which vide judgment dated 03.05.2024 discussed the issue at length and held that notice under Section 148 after introduction of Finance Act, 2021, cannot be issued by Jurisdictional Assessing Officer. It is apt to mention here that Bombay High Court noticed order dated 13.09.2023 passed by Calcutta High Court as well as office memorandum issued by CBDT. The relevant extracts of judgment passed by Bombay High Court are reproduced as below:-
Income Tax Appellate Tribunal - Delhi Cites 35 - Cited by 0 - Full Document

Dcit, Hisar vs Tayal Sons Pvt. Ltd., Hisar on 28 November, 2025

11. Similar issue came up for consideration before a Division Bench of Bombay High Court in Hexaware Technology Ltd. (supra)which vide judgment dated 03.05.2024 discussed the issue at length and held that notice under Section 148 after introduction of Finance Act, 2021, cannot be issued by Jurisdictional Assessing Officer. It is apt to mention here that Bombay High Court noticed order dated 13.09.2023 passed by Calcutta High Court as well as office memorandum issued by CBDT. The relevant extracts of judgment passed by Bombay High Court are reproduced as below:-
Income Tax Appellate Tribunal - Delhi Cites 35 - Cited by 0 - Full Document

Ericsson India Global Services Pvt ... vs Acit Spl. Range 3, New Delhi on 5 August, 2025

3. The next issue in the Additional Ground raised by the assessee is regarding non-chargeability of interest under section 234B and 234C of the Act on the additional income accepted by the assessee pursuant to Advance Pricing Agreement (APA). This ground was adjudicated by the assessee by this Tribunal in Para 20 by stating that interest under section 234B and 234C of the Act shall be charged as per terms mentioned in the APA. We find that the assessee had filed Synopsis at the time of hearing of main appeals wherein the decision of this Delhi Tribunal in the case of Colt Technology Services (I) (P) Ltd vs DCIT reported in 141 taxmann.com 386 dated 13-4-2022. The Synopsis together with various case laws relied including the aforesaid case law of Delhi Tribunal was not at all considered by the Tribunal while adjudicating the issue. This constitute mistake apparent from record warranting rectification under section 254(2) of the Act. Hence we deem it fit and appropriate to recall the order passed by the Tribunal only for Page | 2 MAs 25 &24/Del/2025 Ericsson India Private Limited the limited purpose of adjudication of second issue raised in Additional Ground with regard to interest under section 234B and 234C of the Act.
Income Tax Appellate Tribunal - Delhi Cites 1 - Cited by 0 - Full Document
1