Dismissing the appeal of the revenue the Court held that , the Tribunal has followed the decisions of jurisdictional High Court in DIT v. Jacabs Civil Incorporated ( 2001) 330 ITR 578 (Delhi)(HC) DIT v. GE Packaged Power ( 2015) 373 ITR 65 (Delhi) (HC)and CIT v ZTE Corporation (2017) 392 ITR 80 (Delhi) ) and also referred CIT(IT) v Shanghai Group Co Ltd (ITA Nos 409-410 of 2018 dt. 9-4-2018. Accordingly for non deposit of amount of advance tax by non-resident assessee, the interest was held to be not applicable.
CIT (IT) v. Shanghai Electric Group Co. Ltd. (2019) 103 taxmann.com 112 / 262 Taxman 26 (Delhi)(HC) Editorial: SLP of revenue is dismissed, CIT(IT) v. Shanghai Electric Group Co. Ltd. (2019) 262 Taxman 25 (SC)
S. 215 : Interest payable by assessee–Advance tax-Non deposit of amount by non -resident assessee–Levy was held to be not valid -No question of law.[S. 260A]