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2022 (8) TMI 801 - AT - Income TaxRectification of mistake u/s 154 - levy of interest u/s. 234A - AR submitted that without specific direction, such a levy could not be made - HELD THAT:- We find that Hon’ble Supreme Court in the case of CIT V/s Anjum M.H.Ghaswala [2001 (10) TMI 4 - SUPREME COURT] has held that a perusal of Sections 234A, 234B and 234C would show that the interest for default in furnishing return of income, default in payment of advance-tax and interest for deferment of advance-tax are mandatory in nature and therefore, Income Tax Settlement Commission (ITSC) was not empowered to reduce or waive interest statutorily payable under Sections 234A, 234B and 234C except to the extent of granting relief under the Circulars issued by the Board under section 119. This being so, there would be no requirement for AO to levy the same specifically in the assessment order. For the same reason, another plea of Ld. AR that debatable issue could not be subject matter of rectification u/s 154, would have no legs to stand. As in the present case, interest was levied in the original Income Tax Computation Form, the quantum of which was rectified u/s 154 which could certainly be done. The case law of Hon’ble Delhi High Court in CIT V/s Inchcape India Pvt. Ltd. [2002 (8) TMI 862 - DELHI HIGH COURT] is also on the same fact and hence, not applicable. - Decided against assessee.
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