TMI Blog2015 (8) TMI 621X X X X Extracts X X X X X X X X Extracts X X X X ..... ision contained in Kalyankumar Ray's case [1991 (8) TMI 291 - SUPREME COURT] inasmuch as it is undisputed that Form I.T.N.S.150 contained a calculation of interest payable on the tax assessed. This being the case, it is clear that as per the said judgment, this Form must be treated as part of the assessment order in the wider sense in which the expression has to be understood in the context of Section 143, which is referred to in Explanation 1 to Section 234B. - Decided in favour of revenue. - Civil Appeal No. 1169 of 2006, Civil Appeal No. 1198 of 2006 - - - Dated:- 6-8-2015 - A. K. Sikri And Rohinton Fali Nariman, JJ. For the Appellant : Mr. Guru Krishna Kumar, Adv. Mr. Rupesh Kumar, Adv. Mr. T. M. Singh, Adv. Mr. Jitin Singhal, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the present issue has been decided byCommissioner of Income Tax Ors. v. Ranchi Club Ltd' [(2001) 247 ITR 209] the judgment in referred to above. Shri Guru Krishna Kumar, learned senior counsel appearing for the Revenue, presented three submissions before us and relied upon the decision contained in Kalyankumar Ray v. Commissioner of Income Tax, West Bengal-IV, Calcutta [1992 Supp (2) SCC 424] . According to him, the interest under Section 234B is, in any case, part of Form I.T.N.S. 150 which is not only signed by the assessing officer but it is really part of the assessment order itself. His other submissions are that the judgment in Ranchi Club Ltd.'s case is distinguishable inasmuch as it arose only in a writ petition and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Under these, two forms are in vogue. One is the form of, what is described as, the assessment order , (I.T. 30 or I.T. N.S.65). The other is what is described the Income Tax Computation Form or Form for Assessment of Tax/Refund (I.T.N.S.150). The practice is that after the assessment order is made by the ITO, the tax is calculated and the necessary columns of I.T.N.S. 150 are filled up showing the net amount payable in respect of the assessment year. This form is generally prepared by the staff but it is checked and signed or initialed by the ITO and the notice of demand follows thereafter. The statute does not in terms require the service of the assessment order or the other form on the assessee and contemplates only the service of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s to costs. The High Court judgment which was affirmed by this Court as aforesaid arose in the context of a challenge to the vires of Sections 234A and 234B of the Act. After repelling the challenge to the vires of the two sections, the High Court found that interest had been levied on tax payable after assessment and not on the tax as per the return. Following this Court's judgment in JK Synthetics Ltd. [(1994) 94 STC 422], the High Court held that the assessee is not supposed to pay interest on the amount of tax which may be assessed in a regular assessment under Section 143(3) or best judgment under Section 144 as he is not supposed to know or anticipate that his return of income would not be accepted. The High Court further hel ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hich is subject to such deduction or collection and which is taken into account in computing such total income; (ii) any relief of tax allowed under section 90 on account of tax paid in a country outside India; (iii) any relief of tax allowed under section 90A on account of tax paid in a specified territory outside India referred to in that section; (iv) any deduction, from the Indian income-tax payable, allowed under section 91, on account of tax paid in a country outside India; and(v) any tax credit allowed to be set off in accordance with the provisions of section 115JAA or section 115JD. It will be seen that under the provisions of Section 234B, the moment an assessee who is liable to pay advance tax has failed to pay such tax or wh ..... X X X X Extracts X X X X X X X X Extracts X X X X
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