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M/s Outotec Gmbh Pan : AABCO8228K Versus Income Tax Settlement Commission, Additional Bench, Kol.

Imposition of interest under Sections 234B and 234C - liability to deduct tds - Held that:- The primary liability of deducting tax for the period concerned since the law has undergone a change after Finance Act, 2012 is that of the payer. The payer will be an assessee in default, on failure to discharge the obligation to deduct tax, under Section 201 of the Income Tax Act, 1961. - Following GE Packaged Power Inc. (2015 (1)1168 - DELHI HIGH COURT ) it must be said that since the primary liabi .....

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itioner has assailed an order passed by the settlement commission. The challenge to the order of the settlement commission is limited to the imposition of interest under Sections 234B and 234C of the Income Tax Act, 1961. The learned Senior Advocate appearing for the petitioner has submitted that, the assessee is not liable to pay interest for the defaults of the deductor during the relevant period. He has relied upon a Division Bench judgment of the Hon ble Delhi Court reported at [2015]373ITR6 .....

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val contentions and the materials made available on record. The imposition of interest for the relevant period under Sections 234B and 234C by the settlement commission is under challenge in the present case. In GE Packaged Power Inc. (supra) the following issue was considered: The question that arises for consideration is whether interest should be levied on the assessee under section 234B, on the ground of nonpayment of advance tax. The case of the Revenue, in short, is that the position of la .....

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