TMI Blog2023 (8) TMI 637X X X X Extracts X X X X X X X X Extracts X X X X ..... year under consideration and the same doesn t pertain to fresh claim of any allowance/deduction. It is not a case wherein the assessee sought credit of TDS which needs to be verified with documentation and correlated with the corresponding income. Section 219 of the Act also mandates that the credit of advance tax shall be given to the assessee in the regular assessment. Thus, the inadvertence on the part of the assessee to claim the credit for the advance tax while filing its return of income or filing the revised return of income in this regard does not absolve the AO from its statutory duty as per section 219 of the Act to grant the credit in the regular assessment, particularly when the said amount is duly reflected in Form 26AS whic ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... credit of advance tax paid amounting to INR 1,10,00,000 which was otherwise allowable and could not be claimed in the return of income. 2. On the facts and circumstances of the case and in law, the NFAC erred in upholding the order passed by the learned AO wherein the learned AO failed to discharge his duties as per Circular 14 (XL-35) dated 11 April 1955 issued by the Central Board of Direct Taxes ('CBDT) to assist the tax payer, particularly in the matter of claiming and securing reliefs and taking the initiative in guiding the taxpayer where proceedings before them indicate that the refund or relief is due to him. 3. On the facts and circumstances of the case and in law, the NFAC erred in upholding the order passed by the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... DAMCO Group. For the year under consideration, the assessee filed its return of income on 30/11/2013 declaring a total income of Rs. 18,58,74,940. The return filed by the assessee was selected for scrutiny and vide order dated 28/04/2017 the total income of the assessee was assessed at Rs. 38,23,56,290. In appellate proceedings, the Tribunal granted partial relief to the assessee. Upon receipt of the order giving effect to the Tribunal s direction, the assessee noticed that the credit for advance tax amounting to Rs. 1,10,00,000 paid was not claimed in the return of income. As the due date for filing the revised return of income had expired, the assessee approached the Assessing Officer ( AO ) by filing the rectification application under ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ord. From the perusal of the challan of payment of advance tax, we find that an advance tax of Rs. 44 lakh was paid by the assessee on 14/06/2012, and an advance tax of Rs. 66 lakh was paid by the assessee on 13/09/2012. We find that the aforesaid payments are duly reflected in the relevant extracts of Form 26AS furnished by the assessee. It cannot be disputed that the claim made by the assessee was limited to the grant of credit of the aforesaid advance tax paid during the year under consideration and the same doesn t pertain to fresh claim of any allowance/deduction. It is not a case wherein the assessee sought credit of TDS which needs to be verified with documentation and correlated with the corresponding income. Further, section 219 of ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
