High Court decided issue regarding interest payable under S. 234B in assessee’s favour. Followed CIT(IT) v. Shanghai Electric Group Co. Ltd. In [ITA No. 409-410 of 2018, dt. 9-4-2018 and also DIT v. Jacabs Civil Incorporated ( 2001) 330 ITR 578 ( Delhi) (HC) , DIT v. GE Packaged Power inc ( 2015) 373 ITR 65 (Delhi) (HC) CIT v. ZTE Corporation ( 2017) 392 ITR 80 ( Delhi) (HC).
CIT(IT) v. Shanghai Electric Group Co. Ltd. (2019) 105 taxmann.com 311 / 263 Taxman 476 (Delhi) (HC) Editorial: SLP is granted to the revenue, CIT(IT) v. Shanghai Electric Group Co. Ltd. (2019) 263 Taxman 475 (SC)
S. 234B : Interest-Advance tax–Non-resident-,Entire tax was to be deducted at source -Not liable to pay interest for failure to pay advance tax.