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INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH)
Anubhav Sharma, Judicial Member, Brajesh Kumar Singh, Accountant Member
Sujan Luxury Hospitality Pvt. Ltd. – Appellant
Versus
Assistant Commissioner of Income Tax, Circle-24(2), New Delhi – Respondent
| Table of Content |
|---|
| 1. interest disallowance on inter-corporate deposits to subsidiaries. (Para 1 , 2) |
| 2. commercial expediency allows interest deduction on loans to profitable subsidiaries. (Para 3 , 5 , 6 , 7) |
| 3. appeal partly allowed deleting disallowances. (Para 4 , 15) |
| 4. tds deposited timely before return due date allows expense claim. (Para 8 , 9 , 10) |
| 5. non-resident payments for personal services not fts under dtaa; no tds required. (Para 11 , 13 , 14) |
ORDER
PER BRAJESH KUMAR SINGH, AM,
This appeal filed by the assessee is directed against the order dated 28.01.2019 of the ld. CIT(A)-16, New Delhi, arising out of order u/s 143(3) of the Income Tax Act, 1961 (hereinafter referred to ‘the Act’) dated 16.03.2016 relating to Assessment Year 2013-14.
2. Brief facts of the case:- The Assessing Officer noted that the assessee had claimed interest expenditure on inter corporate deposit amounting to Rs.24,53,696/-. The Assessing Officer further noted that the assessee during the year had advanced interest free loans to its three associate concerns and had not charged any interest on such advances. The Assessing Officer asked the assessee to explain why interest debited in the profit & loss acc
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