2023 (8) TMI 1191

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.... Revenue preferred this appeal. 2. Brief facts of the case are that the assessee was incorporated as a Special Purpose Vehicle (SPV) and its parent company, Emaar PJSC, Dubai entered into a collaboration agreement with the Adhara Pradesh Industrial Infrastructure Corporation Limited (APIIC) to develop a township. Learned Assessing Officer found from the balance sheet of the assessee company for the financial year 2005-06, an amount of Rs. 2,54,94,928/- was shown as 'Architectural Fee' under capital work in progress being the foreign remittance made to Emaar PJSC, Dubai, but without discharging its obligation to make TDS under section 195 of the Income Tax Act, 1961 (for short "the Act"). 3. Though the assessee pleaded that the payment....

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.... of the Act prescribing time limit for completion of proceedings under section 201(1) of the Act. 7. Per contra, learned AR submitted that in the case of Mahindra & Mahindra (supra), the Special Bench of the Tribunal considered the order passed under section 201(1) of the Act for violation of the provisions under section 195 of the Act and held that the expression 'any such person' referred to in section 201(1) of the Act extends to person deducting and failing to deposit tax, but also to person failing to deduct the tax at source. He submits that in the case of Bheemarasetty Sunitha (supra), while following the decision of the Hon'ble Delhi High Court in the case of Bharathi Airtel vs. UOI, 76 taxmann.com 256 (Del) held that four years ....