2021 (4) TMI 912

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....ssee firm, for the sake of convenience they are heard together and disposed off by way of this common order. 2. We have heard rival contentions. On a careful consideration of the facts and circumstances of the case, perusal of the papers on record and the case law cited, we hold as follows. 3. We first take up the appeal in ITA No. 269/Kol/2019 for the AY 2013-14. 3.1. Ground no. 1 is against the disallowance made u/s 43B of the Act. The assessee submits that service tax which was paid to the service provider was payable to the Service Tax Department by the service provider only and not by the assessee. He submits that the service tax component was a part of a cost of services availed by the assessee and it was no service tax payable by ....

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.... judgement of the Hon'ble Supreme Court in the case of National Thermal Power Co. Ltd. vs. CIT [1998] 229 ITR 383 (SC) we admit this ground of the assessee. 4.3. The Kolkata 'B' Bench of the Tribunal in the case of ITC Ltd. in ITA No. 685/Kol/2014 and ITA No. 1267/Kol/2014 order dated 27.11.2018 had followed the judgement of the Hon'ble Rajasthan High Court in the case of M/s. Chambal Fertilisers and Chemicals Ltd. vs. JCIT in D.B. Income Tax Appeal No. 52/2018 and adjudicated the issue in favour of the assessee. Later, the division Bench of the Tribunal in the case of SREI Infrastructure Finance Ltd. vs. DCIT [2016] 72 taxmann.com 239 (Calcutta) has decided the issue against the assessee. The assessee carried the matter to the Hon'ble Cal....

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....est cannot be brought to tax. The Hon'ble Gauhati High Court in the case of Highways Construction Company Pvt. Ltd. vs. CIT 199 ITR 702(Gau.) held as follows: "Section 143 of the Income-tax Act, 1961 - Assessment - Additions to income - Assessment years 1978-79 and 1979-80 - Assessee-company had given interest-free loans and advances to certain parties, including its managing director-ITO added notional amount of interest that should have been charged from those parties to total income of assessee - Whether since assessee had not bargained for interest nor had collected interest, income-tax authorities could not fix a notional interest as due, or collected by assessee - Held, yes - Whether, therefore, Tribunal was not justified in includi....