Orient Overseas Container Line Limited Vs DCIT (ITAT Mumbai)
ITAT Mumbai held that it is the duty imposed on the Assessing Officer to complete the rectification process within six months. Thus, by remanding the matter back to the file of Assessing Officer, it is directed to complete the rectification within one month.
Facts- Assessee is a company incorporated under Companies Ordinance of Hong Kong. It is engaged in the business of operation of ships in international traffic. Post completion of assessment, assessee filed rectification application u/s. 154 of the Act on 05.04.2022 by bringing to the notice of the Assessing Officer certain mistakes apparent on record.
Since assessee has not received any rectification order for the rectification application filed by the assessee before the Assessing Officer beyond six months and subsequent follow up, therefore aggrieved assessee has preferred the present appeal.
Conclusion- Held that Assessing Officer has completed the final Assessment Order and has taken credits as per the information available in ITBA System. Therefore, certain informations were not available with him at the time of completion of the final Assessment Order. However, assessee has filed rectification application u/s. 154 of the Act and it is the duty imposed on the Assessing Officer to complete the rectification process within six months. Even otherwise the Assessing Officer should have intimated the same. However, the assessee has filed the relevant information on the payment of tax and other claims u/s. 234C, interest calculation, difference of TDS credit, difference of short advance tax payment and interest u/s.244A of the Act before us. These informations are remitted back to the file of the Assessing Officer to verify the claim of the assessee as per the Act after giving them a proper opportunity of being heard and we direct the Assessing Officer to complete the rectification within one month on receipt of this order. Accordingly, ground raised by the assessee are allowed for statistical purpose.
