TMI Blog2018 (12) TMI 1501X X X X Extracts X X X X X X X X Extracts X X X X ..... s. MSRC in its return of income in A. Y. 2008-09 to the assessee and to re-compute the interest u/s 234A & 234B of the IT Act. The Assessing Officer shall decide the issue as per fact and law after giving due opportunity of being heard to the assessee within a period of 3 months from the date of receiving of this order by him. We hold and direct accordingly. The grounds raised by the revenue are accordingly allowed for statistical purpose. - ITA No.106/Del/2016 - - - Dated:- 26-11-2018 - SH. R. K. PAND, ACCOUNTANT MEMBER AND MS. SUCHITRA KAMBLE, JUDICIAL MEMBER For The Appellant : Sh. G. K. Dhall, CIT DR For The Respondent : Sh. Nageshwar Rao, Advocate ORDER PER R.K. PANDA, AM: This appeal filed by the revenue i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ity of the notice under law and technical submission on the merits of the case with AO on 21st January 2011 and 12th December 2011 respectively. The AO however rejected the objections of the assessee and completed the assessment u/s 144C (13) of the Act read with section 147 and 143(3) of the Act, vide order dated 30 October, 2012. In the said assessment order, the AO assessed the total income of the assessee at INR 18,49,67,42,612/- as against NIL' income returned by the assessee which resulted into a demand amounting to INR 3,02,79,68,508/- [including interest of INR 1,07,44,40,438/- under section 234B of the Act] on the assessee. The same income has been taxed in the hands of MRSC on protective basis. 4. Subsequently, the AO issu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e case of M/s. MRSC in its return of income for A. Y 2008-09 to the assessee against the provisions of section 199 of the I. T. Act, 1961. 3. The appellant craves to add, amend modify or after any grounds of appeal at the time or before the hearing the appeal. 8. We have considered the rival arguments made by both the sides. It was agreed by both the sides that the matter needs to be set aside to the file of the Assessing Officer with a direction to decide the issue afresh in the light of decision of Hon ble Supreme Court in the case of ITO Vs. Bachu Lal Kapoor Kewal Ram reported in 60 ITR 74. The Ld. Counsel for the assessee stated that specific time limit should be prescribed to the Assessing Officer for deciding the issue. Co ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
