Dhansamridhi Finance Pvt Ltd. Vs DCIT (Delhi High Court)
Delhi High Court held that Form ITNS-150 sets out quantum of tax determination to be paid by assessee in an order u/s. 143(3) of the Income Tax Act, thus any amendment thereof is to be made within time limit prescribed under section 154(7) of the Income Tax Act. Thus, order set aside as beyond time limit.
Facts- The petitioner [Assessee] has filed the present petition impugning the rectification order dated 26.12.2024 [impugned order] passed u/s. 154 of the Income Tax Act, 1961 as well as the demand notice dated 26.12.2024 [impugned demand notice] issued u/s. 156 of the Act.
The impugned order seeks to amend the order dated 11.12.2018 to the extent of including interest u/s. 234A of the Act for the period of four months (that is, from May, 2018 to August, 2018) on the ground that the Assessee had delayed in filing its return of income electronically in response to the notice issued u/s. 148 of the Act.
Although, there is no amendment to the quantum of income chargeable to tax, AO has sought to raise a demand of a sum of ₹29,75,729/- on account of interest u/s. 234A of the Act and has issued the impugned demand notice accordingly amending the notice of demand issued along with the reassessment order dated 11.12.2018.
