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2016 (9) TMI 604 - AT - Income TaxRefund or adjustment of any amount deposited pursuant to the filing of the return of income in response to the notice U/s 153C - addition on account of adopting the revised return - withdrawal of admitted tax liability accepted by filing the revised return - Held that:- It is admitted case that the assessee received the notices for filing the return of income for the A.Y. 2003-04 to 2009-10 U/s 153C of the Act. The assesse filed the return of income for an amount of ₹ 12,57,412/- for the A.Y. 2003-04 and has also deposited the tax with the department. However, the A.O. instead of accepting the return of income had made the addition of ₹ 20.00 lacs which was restricted to an amount of ₹ 10.00 by the ld. CIT(A). In the proceedings before us, the ld AR has submitted that even the addition sustained by the ld CIT(A) is required to be deleted as there was no satisfaction in the eyes of law and the amount of addition of ₹ 10.00 lacs on account of adopting the revised return in pursuant to the notice U/s 148/153C of the Act was incorrect/unsustainable. In our view, the revised return of Rs. of ₹ 12,46,130/- was filed by the assessee in response to the notices issued by the A.O. under the provions of the Act. The ld CIT(A) has upheld the addition to the extent of ₹ 10.00 lacs by accepting the revised return filed by the assessee. In our view, the assessee has admitted the tax liability by filing the revised return and now therefore the assessee cannot be permitted to withdraw the admitted tax liability accepted by him by filing the revised return of income. Though the assessment proceedings U/s 153C are cancelled on account of lack of satisfaction in accordance with law but the assessee is not entitled to refund or adjustment of any amount deposited by him pursuant to the filing of the return of income in response to the notice U/s 153C of the Act, in view of the judgment of the Hon’ble Supreme Court in the case of CIT vs. Micro Nova Pharmaceutical (P.) Ltd. [2014 (2) TMI 948 - SUPREME COURT OF INDIA ].
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