Case Laws
Acts
Notifications
Circulars
Classification
Forms
Manuals
Articles
News
D. Forum
Highlights
Notes
🚨 Important Update for Our Users
We are transitioning to our new and improved portal - www.taxtmi.com - for a better experience.
⚠️ This portal will be discontinued on 31-07-2025
If you encounter any issues or problems while using the new portal,
please
let us know via our feedback form
so we can address them promptly.
Home
2023 (5) TMI 832 - AT - Income TaxAddition u/s 68 u/s 69A and section 69 - assessee stated that he has disclosed u/s 183 of the Finance Act 2016 in respect of the Income Declaration Scheme 2016 (IDS) 2016 - deposit of amount due under the IDS 2016 after the due date of 30.09.2017 that is on 21.12.2017 - AO observed that certificate of declaration under IDS 2016 has not been produced by the assessee to establish the claim so made - HELD THAT - We take note of the Notification No. 103/2019 dated 13.12.2019 which has extended the due date for payment of tax under the IDS 2016 along with interest and penalty in respect of income declared under the IDS 2016 to 31.01.2020. Considering the fact of deposit of tax payable under the IDS 2016 by the assessee though after the original due date but much prior to the extended due date as well as prior to the issuance of Notification No. 103/2019 we find it proper to remit the matter back to the file of ld. AO for the purpose of verification of these facts and compute the interest if applicable in terms of the notification referred above It is important to note that assessee has discharged his tax liability in respect of declaration made by him under the IDS 2016. Having done so the benefits available under the IDS 2016 should be given to the assessee. The Central Government itself relaxed the condition for making the payment of last installment by extending the dates from 30.09.2017 to 31.01.2020. In the explanatory memorandum to Notification No. 103/2019 it is certified that no person is being adversely affected by giving retrospective effect to this notification. Thus the intention of the Central Government is in no way to adversely affect any person in relation to IDS 2016. In the present case assessee has duly discharged its tax liability under the IDS 2016 which is prior to the extended due date as well as before the notification itself and therefore there is no occasion to put him in an adverse situation. Appeal of the assessee is allowed for statistical purposes.
|