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2018 (12) TMI 1058 - AT - Income TaxShort grant of credit of advance tax - Rectification application u/s 154 - Held that:- The assessee has claimed for credit of advance tax paid of ₹ 33,70,59,363, in the return of income filed for the impugned assessment year. Whereas, AO while passing the final assessment order, has allowed credit for advance tax amounting to ₹ 33,60,13,160. According to the assessee, there is a short credit for advance tax paid amounting to ₹ 10,46,203. Notably, though, the assessee has filed an application under section 154 before the AO on 11th July 2017, pointing out the error in granting credit for advance tax, however, as submitted by the AR, the said application is still pending before the Assessing Officer. In due consideration of the aforesaid facts, we direct the AO to verify assessee’s claim of payment of advance tax and grant actual credit for the tax paid by the assessee. This ground is allowed for statistical purposes. Levy of interest u/s 234B - rectification application filed under section 154 - Held that:- As submitted by the assessee that, in fact, a refund of ₹ 5,22,35,371, is due to the assessee after deletion of addition made in the draft assessment order. Further, it is noticed that in the rectification application filed under section 154 of the Act before the Assessing Officer on 11th July 2017, the assessee has also raised the issue of mistake committee by the Assessing Officer in charging interest under section 234B. However, as submitted by the learned Authorised Representative, the said rectification application is still pending. In view of the aforesaid, we direct the Assessing Officer to verify assessee’s claim that interest under section 234B of the Act is not chargeable for the impugned assessment year and decide the issue after due opportunity of being heard to the assessee. This ground is allowed for statistical purposes.
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