Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
Popular Search: TDS :: VAT Audit :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARDS :: VAT RATES :: articles on VAT and GST in India :: empanelment :: form 3cd :: ACCOUNTING STANDARD :: ARTICLES ON INPUT TAX CREDIT IN VAT :: cpt :: Central Excise rule to resale the machines to a new company :: TAX RATES - GOODS TAXABLE @ 4% :: list of goods taxed at 4% :: due date for vat payment
News Headlines »
 CBDT releases Income Tax Return statistics for last two fiscals
 CBDT issues second round of Certificates of Appreciation to tax payers for their contribution towards Nation building
 FinMin looks at cut in corporation tax
 Draft Rules for prescribing the method of valuation of fair market value in respect of the trust or the institution-Chapter XII-EB of the Income-tax Act, 1961- reg.
 India is moving towards a flawed GST
 ICAI to organise two-day international conference in Hyderabad
 Here's how to calculate tax payable on your capital gains
 Income Tax calculations for the financial year 2016-17
 CPE Events 17 October - 22 October 2016
 High Court raps I-T Department for wrong tax demand
  CBDT signs 5 advance pricing pacts with Indian taxpayers

SC gives relief to Hindustan Coca Cola in TDS case
August, 17th 2007
The Supreme Court on Thursday held that Hindustan Coca Cola Beverage Pvt Ltd (HCCB) is not liable to pay further tax to the government on warehousing charges paid to a company, which had already deposited the due tax.

While allowing the appeal of the soft drinks major, a bench comprising Justices S H Kapadia and B Sudershan Reddy observed that tax authorities cannot claim taxes twice after the second party Pradeep Oil Corporation had paid the levy.

The court set aside the Delhi High Court judgement, saying it should not have interfered with the Income Tax Appellate Tribunal's order to reopen the matter.

"In the instant case, the appellant (HCCB) had paid the interest under Section 201 (1A) of Income Tax Act and there is no dispute that the tax due had been paid by deductee-assessee (Pradeep Oil Corp)... There is no dispute that POC has already paid the taxes due on its income received from HCCB and had received refund from the tax department," it held.

HCCB had entered into an agreement with POC for use of premises for storage purposes and had paid warehousing charges after deducting tax at source at the rate of two per cent.

However, tax authorities had held the soft drinks company as 'assessee in default', ruling that it should have deducted tax at 20 per cent as against two per cent. This was because warehousing charges were in the nature of rent as defined in explanation to Section 194-I of the Act, they had ruled.

However, the Tribunal, had ruled that though HCCB was rightly held to be an 'assessee in default', but there could be no further recovery of tax considering that POC had already paid taxes on the amount received from the former.

HCCL had submitted that no further tax could be collected from it as POC had paid the due taxes.
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Reengineering Software Re-engineering Software Reverse Engineering Software Reverse Development Software Change Modulation Software Conversion Software Re-creation Software Re-development

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions