9911796707
TMI Blog2019 (7) TMI 932X X X X Extracts X X X X X X X X Extracts X X X X ..... ces of the case and in law, the Ld.CIT(A) erred in law in restricting the meaning of regular assessment without appreciating the fact that assessment order dated 28.03.2016 was passed u/s 143(3) rws 254 of the Act." 2. "On the facts and in the circumstances of the case and in law, the Ld.CIT(A) erred in holding that interest u/s 234A & 234B is to be computed till the date of original assessment and not till the date of fresh assessment without appreciating that provisions of section 234A & 234B provides interest computation till the date of regular assessment u/s 143(3) under which the fresh assessment order was passed." 3. "On the facts and in the circumstances of the case and in law, the Ld.CIT(A) erred in holding that interest u/s 22 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... bove background, we find that the dispute of the present appeal stem from rectification order passed by Ld. Assessing Officer u/s 154 on 06/09/2016 pursuant to rectification application filed by the assessee against the order dated 28/03/2016 passed by Ld. AO u/s 143(3) r.w.s. 254 of the Act determining the income at Rs. 1884.71 Crores. Two issue arises under the appeal. It is worth mentioning that the assessee is a notified entity under the provisions of the Special Court Act. 3.2 The first issue pertains to charging of interest u/s 220(2). As per assessee's submissions, the interest was to be charged after expiry of 35 days from the issue of fresh assessment order passed pursuant to the directions of the Tribunal in set aside proceedings ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that interest under Sec. 220(2) was to be charged from the date of fresh assessment order, then in that case the interest u/s 234A shall be charged till the date of fresh assessment order. Regarding interest u/s 234C, the assessee submitted that the issue could not be taken up in assessee's rectification application. However, disregarding the same on the ground that interest u/s 234C was already charged at Rs. 13.98 Crores while completing the assessment, the Ld. AO held that assessee was liable to pay interest for deferment of advance tax payment on the basis of assessed income. Therefore, Ld. AO concluded that interest u/s 234C was to be charged accordingly after due verification. 4.1 Aggrieved, the assessee contested the stand of Ld. A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... der. In the said para, the revenue authorities have been directed to follow the order passed in the case of Late Harshad S. Mehta vide para nos. 29 to 30.10 and charged interest accordingly. In para 30.10 of the order, it has been held that interest u/s 220(2) was to be charged from the date of default of fresh demand notice issued after the fresh assessment made in consequent of the orders of the appellate authorities. Similarly, the issue of charging of interest u/s 234A, 234B & 234C has also been dealt with by the coordinate bench, in other paras. Since a view has already been taken by the coordinate bench in the matter, refraining from delving into the issues any further, we direct Ld. AO to follow the cited order of the Tribunal. 6. I ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
