TMI Blog2015 (10) TMI 1875X X X X Extracts X X X X X X X X Extracts X X X X ..... light of the decision of the Hon'ble Supreme Court in the case of Hindustan Beverages Coca-Cola P. Ltd. (2007 (8) TMI 12 - SUPREME COURT OF INDIA). The Assessing Officer is also directed to recompute the interest payable by the assessee under S.201(1A) as per the decision of the Hon'ble Supreme Court in the case of Hindustan Beverages Coca-Cola P. Ltd. (supra). He shall, of course, afford reasonable opportunity of hearing to assessee, before passing appropriate orders in these matters. - Decided partly in favour of assessee for statistical purposes. - ITA No.819 to 821 /Hyd/2014, ITA No.1723/Hyd/2014 - - - Dated:- 15-7-2015 - P. M. Jagtap, AM And Saktijit Dey, JM, JJ. For the Appellant : Shri Mohd Afzal For the Respondent : Shr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nancial transactions as per the relevant terms and conditions and the assessee, therefore was liable to deduct tax at source from the payment of interest charges made to various companies. Since no such tax was deducted at source by the assessee company, the Assessing Officer treated the assessee as in default for such TDS amounts and also charged interest in relation to such amounts for all the four years under consideration. 3. As further noted by the Assessing Officer, there was also default on the part of the assessee of non-deduction or short deduction of tax at source, as required by the provisions of S.194C, 194H, 194I and 194J of the Act. Accordingly, the assessee was treated as in default by the Assessing Officer for such failur ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in upholding the orders passed by the Assessing Officer under S.201(1)/201(1A) substantially, treating it as in default for its failure to deduct tax at source, as required by the provisions of S.194A, 194C, 194I and 914J of the Act, the learned counsel for the assessee, at the time of hearing before us, has raised only one contention relying on the decision of the Hon'ble Supreme Court in the case of Hindustan Beverages Coca-Cola P. Ltd. V/s. CIT (293 ITR 226) that the concerned recipient/payee having declared the corresponding amounts received from the assessee as their income and also having paid taxes thereon, assessee cannot be treated as in default under S.201(1) for the same amount of taxes, which have already been paid by the p ..... X X X X Extracts X X X X X X X X Extracts X X X X
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