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TMI Blog2015 (10) TMI 936X X X X Extracts X X X X X X X X Extracts X X X X ..... Commissioner of Income tax-I, 1961 but he has simply intimated the facts to the assessee that his rectification application dated 19.06.2006 was disposed of by the Deputy Commissioner of Income tax, CC-IX, New Delhi on 18.09.2006 by rectifying the interest charged u/s 234A. 2. That the Ld. Commissioner of Income Tax (Appeals)-II, Kanpur has erred in law and on facts in not appreciating the fact that the assessee's petition u/s 154 was disposed of vide order dated 18.09.2006 rectifying the interest u/s 234A and granting resultant refund of Rs. 11,60,962/- in consequent to which the assessee moved petition for waiver of interest u/s 234B and 234C before Chief Commissioner of Income Tax, Central Circle, New Delhi on 21.09.2006, this clearly ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... seized amount lying with P.D. Account of the Department. This application of the assessee was not disposed of. The AO, however, issued I.T.N.S.-150 in which the adjustment of the advanced tax for AY 2004-05 was not made and the Assessing Officer has charged interest u/s 234A of the Act. The assessee further issued the reminders to the Chief Commissioner vide his letter dated 20.09.2006 with a request that seized money be adjusted against the advance tax and no interest u/s 234B and 234C of the Act be charged. The assessee finally moved an application before the Assessing Officer on 11.06.2013 with the request to dispose of his earlier application for rectification in which adjustment of advance tax for AY 2004-05 was sought and also for th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ntainable, therefore, the AO has rightly rejected the application of the assessee. 5. The Ld. Counsel for the assessee, on the other hand submitted that the assessee moved an application before the AO u/s 154 of the Act seeking rectification therein with respect to adjustment of advance tax for AY 2004- 05 against the seized amount and also for the deletion of interest charged u/s 234B and 234C of the Act. The Assessing Officer simply issued I.T.N.S.- 150 totaling the computation of income but has not disposed of the application of the assessee by passing a speaking order. These facts were indirectly admitted by the Assessing Officer while submitting reply to the Chief Commissioner or Commissioner in response to the applications filed befo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... record that the Assessing Officer has not disposed of the application dated 19.06.2006 filed u/s 154 of the Act by passing speaking order. Thus, the rejection of succeeding application is not proper on the ground that these rectification applications were filed after four years from the end of the financial year in which the order was passed. In such circumstances, two options are left with us; one is either to sent the matter back to the AO for passing the order on application u/s 154 of the Act and the second one is to decide the dispute of adjustment of seized amount against the advanced tax for the AY 2004-05 and in that case the interest u/s 234B and 234C would not be charged. In this regard our attention was invited to the legal posi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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