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Case Law Details

Case Name : Dy. Director of Income-tax Vs Serum Institute of India Limited (ITAT Pune)
Appeal Number : ITA No. 1601 to 1604/PN/2014
Date of Judgement/Order :
Related Assessment Year :
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CA Mayank Parekh

Facts of the Case:

The assessee had made payments to non-residents on account of interest, royalties and fees for technical services and the same were subject to withholding under Section 195 of the Act. The assessee in accordance with provisions of Section 90(2) deducted tax on such payments as per the beneficial rates prescribed in the DTAA with respective countries.

As the recipient being non-residents did not have Permanent Account Number (‘PAN’), the Assessing Officer treated such payments as ‘short deduction’ of tax in terms of the provisions of Section 206AA of the Act. Accordingly demands were raised on the assessee for the short deduction of tax and also for interest u/s 201(1A) of the Act.

The matter carried before the Commissioner of Income-tax (Appeals) [‘CIT(A)’] and then before the Income-tax Appellate Tribunal (‘ITAT’)

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