2017 (1) TMI 54

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....st the order of the CIT (Appeals). The appeals pertain to the Assessment Years 2008-09 to 2010-11. The appeals are admitted on the following substantial question of law:- "Whether the Tribunal was right in deleting the interest charge under Section 206C(7) of the Income Tax Act, 1961?" The contract in respect whereof the appellant/revenue contends that the provisions of Section 206C(1C) are applicable is not furnished. However, for the purpose of this judgment is not necessary to refer to the contract in detail, as we have proceeded on the basis that Section 206C(1C) applies to the contract. Suffice it to note for the purpose of the appeals that a concessionaire agreement was entered into between the assessee and the concessionaire under ....

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....ity of having its main contention decided by the Tribunal. We have provided for the same accordingly. Section 206C(1C) reads as under:- "Every person, who grants a lease or a licence or enters into a contract or otherwise transfers any right or interest either in whole or in part in any parking lot or toll plaza or mine or quarry, to another person, other than a public sector company (hereinafter in this section referred to as "licensee or lessee") for the use of such parking lot or toll plaza or mine or quarry for the purpose of business shall, at the time of debiting of the amount payable by the licensee or lessee to the account of the licensee or lessee at the time of receipt of such amount from the licensee or lessee in cash or by the....

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....on 201(1A) of the Act till the date of payment of taxes by the deductee-assessee or the liability for penalty under Section 271C of the Income-Tax Act." We have today, by a separate order and judgment decided in ITA No.73 of 2016 which is also the assessee's case under Section 201 including sub-section (1A) thereof. On a parity of reasoning, this appeal also ought to be decided in favour of the Revenue. Moreover, even assuming that the judgment in Hindustan Coca Cola case (supra) applies to this case, the assessee's liability under subsection (7) cannot be applied on the basis thereof. The last sentence in paragraph No.10 quoted above makes it clear that where the deductee assessee in the case of TDS had paid the tax or filed a "....