Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2017 (6) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2017 (6) TMI 7 - ITAT AHMEDABADAdjustment of advance tax and interest - assessee strongly seeks credit of the seized cash of ₹ 40lacs advance tax in the impugned assessment year 2009-10 as well as in respect of interest liability u/s.234B & C - Held that:- Assessee had submitted its application well in time seeking credit of the cash sum seized against the above liabilities. We do not see any such evidence at the appellant’s behest intimating the revenue authorities to grant credit of the seized cash as advance tax. Shri Divatia is fair enough in referring to assessee’s return dated 29-30/09/2009 seeking to claim the above seized cash as advance tax. We therefore quote this tribunal’s decision in Kanishka Prints Pvt. Ltd. vs. ACIT (2013 (7) TMI 14 - ITAT AHMEDABAD) and direct the Assessing Officer to grant the assessee the credit prayed for from the date of filing of its return only with all consequential benefits. The assessee’s grievance stands partly accepted in view of our above discussions. - Decided partly in favour of assessee.
|