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Shri Hingulambika Co-operative Housing Society Limited Versus The Commissioner of Income Tax, The chief Commissioner of Income-Tax, The Income-Tax Officer Ward-I Bijapur

Revision u/s 264 in favor of assessee - Claim for refund of excess Tax paid/waiver of interest under Sections 234A, 234B and 234C denied - reason assigned for rejection was, the return was not voluntarily filed by the petitioner but consequent upon survey conducted under Section 133A - Held that:- The respondent/Authorities are in agreement on one fact that belated returns cannot be revisited. But under Section 147 of the Act, the Assessing Officer is authorized to assess reasonable income escap .....

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k that no order is passed by the Assessing Officer. - This Court in the matter of A. Balakrishnan v. General Manager, Hindustan Machine Tools Ltd. [2007 (2) TMI 172 - KARNATAKA High Court] held that the Income-tax authorities are duty bound to process a return claiming refund even though filed beyond the period prescribed under Sections 139(1) and 139(4) of the Income-tax Act, 1961, said finding was upheld by the Division Bench of this Court. - In the matrix on hand, the revisional autho .....

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oner/a Co-operative Society registered under the Co-operative Societies Act, 1978, is aggrieved by the rejection of its claim for refund of excess Tax paid/waiver of interest under Sections 234A, 234B and 234C of the Income-tax Act, 1961 ('the Act' for brevity) by the respondent/Authorities. 2. Facts relevant for the present case is, after a survey under Section 133A of the Act on 12.1.2001, the petitioner filed its returns for the assessment years 1991- 92 to 1998-99 and paid tax on sel .....

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rayer of the petitioner for refund of excess of tax paid. The petitioner made another effort before 2nd respondent/Chief Commissioner of Income Tax seeking waiver of interest levied under Sections 234A, 234B and 234C of the Act. After enquiry, said application was rejected vide Annexure-H. The reason assigned for rejection was, the return was not voluntarily filed by the petitioner but consequent upon survey conducted under Section 133A of the Act; though the income was chargeable to tax, it was .....

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accepted that the returns were belated, then there is no returns, thus there is no tax. The tax paid by the petitioner, since is wrongly withheld by the Revenue, same is liable to be refunded to the petitioner. The endorsement at Annexure-D issued by Assessing Authority/3rd respondent, declining the prayer of the petitioner for refund of excess of Tax collected is, therefore, an order under the Act amenable for revision under Section 264 of the Act. The Revisional Authority failed to exercise hi .....

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econd respondent has rejected waiver of interest for extraneous reasons, thus, the orders at Annexures-F and H be quashed directing Authorities to waive interest/refund the excess tax paid to the petitioner. 4. Sri. Ameetkumar Deshpande, learned Counsel appearing for the respondents while seeking to sustain the orders under challenge submits that the petitioner having not filed returns within stipulated period by its own conduct prevented the Assessing Authority from assessing its returns for ye .....

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er. 5. With the above rival submissions, the short question that arises for consideration is on the legality of the order passed by Revisional Authority and Chief Commissioner of Income Tax in rejecting the prayer of assessee. 6. The respondent/Authorities are in agreement on one fact that belated returns cannot be revisited. But under Section 147 of the Act, the Assessing Officer is authorized to assess reasonable income escaping assessment within a period of four years of returns. That being s .....

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the matter of A. Balakrishnan v. General Manager, Hindustan Machine Tools Ltd. [2007] 290 ITR 227 (Kar.) held that the Income-tax authorities are duty bound to process a return claiming refund even though filed beyond the period prescribed under Sections 139(1) and 139(4) of the Income-tax Act, 1961, said finding was upheld by the Division Bench of this Court. The Apex Court in CIT v. Shelly Products [2003] 261 ITR 367 (SC) & CIT v. Vatika Township (P.) Ltd. [2014] 367 ITR 466 249 (SC) obser .....

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quity demanded that even where an assessment was annulled for any reason, the liability of the assessee, at least to the extent of tax payable on the basis of the income declared in the return, should remain. To overcome this difficulty and to make the position clear, the proviso to section 240, inserted by the Amending Act, 1987, provides that where the assessment is annulled, the refund shall become due only in respect of the amount, if any, paid in excess of the tax chargeable on the total in .....

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