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INCOME TAX APPELLATE TRIBUNAL (MUMBAI BENCH)
SHRI SANDEEP SINGH KARHAIL, J
Deputy Commissioner of Income Tax (TDS)– 2(1), Mumbai – Appellant
Versus
Piramal Enterprises Limited – Respondent
| Table of Content |
|---|
| 1. revenue's appeal based on alleged non-compliance in interest payment. (Para 1 , 2 , 3) |
| 2. assessee's classification of payments as asset purchase, not interest. (Para 4 , 5 , 6) |
| 3. tribunal decision upholding non-applicability of tds on payments. (Para 7 , 8) |
| 4. overall conclusion affirming dismissal of revenue's appeal. (Para 9) |
ORDER
The Revenue has filed the present appeal against the impugned order dated 09/05/2025, passed under section 250 of the Income Tax Act, 1961 (“the Act”) by the learned Additional/Joint Commissioner of Income Tax (Appeals)-2, Delhi, [“learned Addl./Joint CIT(A)”], which in turn arose from the order passed under section 201(1)/201(1A) of the Act, for the assessment year 2019-20.
“1. Whether the Addl. CIT(A) erred in allowing the appeal of PHL Finvest Pvt. Ltd. without considering the fact that the payment made by PHL Finvest Pvt. Ltd. to Piramal Enterprises Lid. for acquisition of loan assets included accrued interest as well?
3. Whether the Addl. CIT(A) erred in accepting the view of the assessee that there is no income, for provisions of TDS to be applicable, without appreciating the fact that transaction between PHL Finvest Pvt. Ltd. and P
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