Case Law Details
Case Name : ABB Limited Vs Additional CIT (ITAT Bangalore)
Related Assessment Year : 2006-2007
Courts :
All ITAT ITAT Bangalore
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ABB Limited Vs Additional CIT (ITAT Bangalore)
Learned AR has given a table, wherein it is claimed that excess payment of advance tax for the 1st and the last quarter has been ignored while calculating interest u/s 234C of the I.T. Act.
ITAT directs A.O. to examine the correctness of the claim of the assessee as regards the calculation of interest u/s 234C of the I.T. Act and grant relief in accordance with law.
FULL TEXT OF THE ORDER OF ITAT BANGALORE
This appeal at the instance of the assessee is directed against CIT(A)’s order dated 31.01.2012. The relevant assessment year is 2006-2007.
2...
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“5.1 The A.O. is directed to examine the correctness of the claim of the assessee as regards the calculation of interest u/s 234C of the I.T.Act and grant relief in accordance with law. Accordingly, ground 2 in additional ground is restored to the A.O.”
As stated, -“The relevant assessment year is 2006-2007.’
It stands to be inferred from thetext of the itat order, presumably . the assessment has been completed manually; not processed though the CPC.
Be that as it may, am personally aware of an instance in which, even while e’filing a tax return for AY 2021-22,the filer has substantially over paid advance tax and as per the computation in the return a refund is due(together with interest); nonetheless, the system calculates and shows interest u/s 234C as due. Does that not mean that the system itself is faulty; if so, requires to be revamped ?!?
courtesy