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2020 (8) TMI 116 - AT - Income TaxRectification of mistake u/s 254 - Credit of DDT [Dividend Distribution Tax] against its tax liability on the total income - short/deficit credit of DDT u/s 115-O and interest u/s 115-P - declining on the part of the Tribunal to address the grievance of the assessee, for the reason, that the same did not emanate from the impugned order - HELD THAT:- Hon’ble Apex Court in the case of Genpact India (P). Ltd. Vs. Dy. CIT [2019 (11) TMI 1118 - SUPREME COURT] it can safely be concluded that an assessee remains well within his right to assail by way of an appeal the quantification of tax and interest liability raised by the revenue against it u/ss. 115-O and 115-P of the Act. In the backdrop of our aforesaid observations, we are of the considered view that the declining on the part of the Tribunal to address the grievance of the assessee as regards the raising of the demand u/ss. 115-O (tax) and 115-P (interest) by observing that the issue as regards quantification of DDT did not arise from the order passed by the CIT(A), is not found to be in conformity with the settled position of law laid down by the Hon”ble Apex court in the afore mentioned judgments. Hon’ble Apex Court in the case of ACIT Vs. Saurashtra Kuth Stock Exchange Ltd. [2008 (9) TMI 11 - SUPREME COURT] wherein it was observed that a non-consideration by the Tribunal of a judgment of the jurisdictional High Court or the Hon”ble Supreme Court, though not brought to the notice of the Tribunal at the time of hearing of the appeal would constitute a “mistake apparent from record” which could be rectified under Sec. 254(2). Accordingly, on the basis of our aforesaid observations, the order passed by the Tribunal while disposing off the appeal of the assessee is rectified. We herein restore the matter to the file of the A.O, who is herein directed to verify the claim of the assessee that though it had deposited DDT of ₹ 33,21,750/- u/s 115-O of the Act, vide a challan dated 17.05.2010 (as per “Form 26AS”), however, credit has been allowed only to the extent of ₹ 32,44,500/-. Resultantly, the impugned demand towards such short/deficit credit of DDT of ₹ 77,250/- u/s 115-O and interest u/s 115-P of ₹ 4,69,975/- had been raised by the revenue. Miscellaneous application filed by the assessee is allowed.
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