Interest liability U/s. 234B – Non-payment of advance tax & non deduction of tds

Facts of the Case- General Electric group was manufacturing equipment relating to oil and gas, energy, transportation and aviation, for supply to customers in India. After a survey under Section 133A at the premises of General Electric International Operations Company Inc. (“GEIOC”), the liaison office, reassessment proceedings were initiated against several entities of the GE group for assessment years (AYs) 2000- 2001 till AY 2006-07, on 3 1.3.2008. The respondents in these appeals are 8 such entities (“assessees”) i.e. GE Packaged Power Inc., GE Jenbacher Gmbh, Nuovo Pignone Spa, GE...