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COMMISSIONER OF INCOME TAX DELHI CENTRAL-III Versus VISHAN DAS AND OTHERS

2015 (5) TMI 792 - DELHI HIGH COURT

Interest added under Section 245D(2C) cancelled by ITAT - Held that:- Question of levying any additional interest over and above what is permissible under Chapter XIX-A would not arise in the given circumstances of the case.

Concededly at the time when the application was filed before the settlement commission, the assessee deposited the admitted tax liability. Soon thereafter, when the application was admitted, the amount required was deposited within the time stipulated under Sectio .....

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/2013, ITA 405/2013, ITA 408/2013 - Dated:- 21-5-2015 - MR. S. RAVINDRA BHAT AND MR. R.K. GAUBA, JJ. For The Revenue : Mr. P Roy Chaudhuri, sr. standing counsel For The Assessee : Mr. Piyush Kaushik, Adv. JUDGMENT MR. JUSTICE S. RAVINDRA BHAT (OPEN COURT) 1. In these three appeals, the revenue urges that the common order of the Income Tax Appellate Tribunal in IT(SS) Nos.29 to 32/D/2011 covering the block period 1.4.95 to 5.10.01 is erroneous insofar as it upheld cancellation of interest added u .....

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on 245D(1) to the settlement commission and disclosed ₹10 lakhs in the hands of each of the four persons i.e. a total of ₹40 lakhs at 2% of turnover of ₹20 crores. By a speaking order, these applications were admitted under Section 245D(1) on 23.10.2003. 3. The settlement commission called for a report under Rule 9 read with Section 245D(1) from the Commissioner of Income Tax. The matter was heard on several dates and finally an order was made on 26.3.2010. The final order dire .....

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1.2004 and 26.3.2010. This addition was appealed to the CIT(A) as untenable. The CIT took note of the dates when these amounts were offered - soon after the admission of the application before the settlement commission and also the date on which the deposit was made pursuant to final order which was on 4.5.2010. This is to be found in the following chart, prepared by the CIT(A). The said chart is extracted below: Date of filing of Application u/s 245C(1) 11.12.2002 Date of admission of Applicati .....

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Order passed by the Settlement Commission u/s 245D(4) ₹16,43,000/- Date on which the tax has been paid by the appellant in pursuance of order 245D(4) 04.05.2010 4. In view of these facts, the CIT returned the finding that the assessee had deposited tax within the time specified under Section 245D(2A). The CIT(A) also observed that, however, the AO while passing the order under Section 158BC read with 245D(4) of the Act charged interest under 245D(2C) of the Act for the period starting from .....

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e clear findings rendered by the CIT(Appeals) with respect to the error in calculation of the interest payable, as per the AO s determination. 6. The ITAT has, in its decision, elaborately considered the provisions of Chapter XIX-A, more particularly the scope of the settlement commission s jurisdiction. It also took into consideration several authorities as well as the judgment of the Supreme Court in Ajmera Housing Corporation & Anr. Vs CIT 234 CTR (SC) 118. The ITAT thereafter concluded a .....

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