HC: Upholds Sec.234B interest levy on NR; Maersk Ratio inapplicable

Jul 26,2019

Uttarakhand HC rules in favour of Revenue, upholds Sec. 234B interest levy on assessee [a UK Co. engaged in Oil exploration business]; Rejects assessee's stand that since its income in India was subject to TDS u/s. 195, Sec. 234B interest cannot be levied in view of Jurisdictional HC Full Bench ruling in Maersk Co. Ltd.; HC observes that the Full Bench ruling dealt with Sec.234B interest levy on employee for non-deduction of 'TDS u/s.192' by employer, whereas the ...

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