https://www.taxtmi.com/caselaws?id=243052 The Assessing Officer initiated reassessment proceedings on 22 entities of G.E. Group, attributing profits to a Permanent Establishment in India. The Ld. Commissioner of Income-tax (Appeals) upheld this action. The main issue was the deletion of interest under section 234B by the Ld. CIT (Appeals), challenged by the Revenue. The Tribunal ruled in favor of the assessees, stating that as non-resident companies, they were not liable to pay interest under section 234B due to the obligation of payers to deduct tax at source. The Tribunal dismissed the Revenue's appeals, relying on legal precedents and the decision of the Jurisdictional High Court. en-us Tue, 16 Jul 2013 00:00:00 +0530 Sat, 25 Jan 2014 18:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=243052 The Assessing Officer initiated reassessment proceedings on 22 entities of G.E. Group, attributing profits to a Permanent Establishment in India. The Ld. Commissioner of Income-tax (Appeals) upheld this action. The main issue was the deletion of interest under section 234B by the Ld. CIT (Appeals), challenged by the Revenue. The Tribunal ruled in favor of the assessees, stating that as non-resident companies, they were not liable to pay interest under section 234B due to the obligation of payers to deduct tax at source. The Tribunal dismissed the Revenue's appeals, relying on legal precedents and the decision of the Jurisdictional High Court. Case-Laws Income Tax Tue, 16 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=243052