In The Director Of Income Tax (International Taxation v. M/S.arc Line (Mauritius, the High Court (2011) dismissed the appeal. The decision went in favour of the assessee.
Issue: 1.Whether the Income Tax Appellate Tribunal was justified in deleting the interest levied under Section 234B of the Income Tax Act, 1961 is the question raised in this appeal.
Decision: NGC Network Asia LLC reported in (2009) 313 ITR 187 (Bom) 3.In this view of the matter, the appeal is dismissed with no order as to costs.
Summary auto-generated from the order below — read the full judgment for the complete reasoning.
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION
INCOME TAX APPEAL NO.6626 OF 2010
The Director of Income Tax (International Taxation)
..Appellant.
Versus
M/s.ARC Line (Mauritius)..Respondent.
Mr.Suresh Kumar for the appellant.None for the respondent.
CORAM : J.P. Devadhar &
Smt.R.P. Sondurbaldota, JJ.
P.C. :
DATE : 1[st] July, 2011.
1.Whether the Income Tax Appellate Tribunal was justified in deleting the interest levied under Section 234B of the Income Tax Act, 1961 is the question raised in this appeal.
2.Counsel for the Revenue fairly states that the aforesaid question is answered against the Revenue in the case of Director of Income Tax (International Taxation) V/s. NGC Network Asia LLC reported in (2009) 313 ITR 187 (Bom)
3.In this view of the matter, the appeal is dismissed with no order as to costs.
(Smt.R.P. Sondurbaldota, J.)(J.P. Devadhar, J.)
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