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TMI Blog2010 (3) TMI 892X X X X Extracts X X X X X X X X Extracts X X X X ..... . ORDER D.K. Agarwal, Judicial Member. - This appeal preferred by the revenue is directed against the order dated 19-7-2004 passed by the CIT(A) for the assessment year 2000-01. By the consent of both the parties, this appeal is being heard and disposed of by this order. 2. Briefly stated the facts of the case are that the assessee is a non-resident company. It is engaged in the business of ISO ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ras Fertilizers Ltd. [1984] 149 ITR 703 1 (Mad.), CIT v. Ranoli Investment (P.) Ltd. [1999] 235 ITR 433 (Guj.), Asia Satellite Telecommunications Co. Ltd. v. Dy. CIT [2003] 85 ITD 478 (Delhi), Sedco Foreign International Drilling Inc. v. Dy. CIT [2000] 67 TTJ 670 . Without prejudice to the above, it was also pointed out that the Assessing Officer has levied interest under section 234B at 1.5 per c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ound that since the taxes were deductible at source from payments made by the Indian companies, the assessee can not be saddled with burden of the above interest, ignoring the fact. (a)That since the tax was not deducted at source it was obligatory on the part of the assessee to make the deficit good by way of making payment towards advance tax; (b)That since the assessee failed to pay the advan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... was not liable to pay advance tax. Recently, the Hon'ble Jurisdictional High Court in NGC Network Asia LLC's case (supra), on the identical issue, has held vide placitum 8 (at page 190 of the ITR) as under : "We are in respectful agreement with the view taken in the case of CIT v. Sedco Forex International Drilling Co. Ltd. [2003] 264 ITR 320 (UK) by the Uttaranchal High Court. We are clearly of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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