Case Law Details
M/s. Nidhi Packers Pvt. Ltd. Vs ITO (ITAT Kolkata)
Learned counsel for the assessee has contended that the due date of filing of return of income for the year under consideration was extended by the CBDT by a period of 15 days and since the return originally filed by the assessee was within such extended period, interest u/s 234A was not chargeable. I direct the Ld. CIT(A) to verify this claim of the assessee and decide the issue of levy of interest u/s 234A accordingly. As regards the interest u/s 234B and 234C, the learned counsel for the assessee has sought only the consequential relief. The Ld. CIT(A) is accordingly directed to allow the consequential relief to assessee on these issues.
FULL TEXT OF THE ITAT JUDGMENT
This appeal filed by the assessee is directed against the order of Ld. CIT (Appeals) – 2, Kolkata dated 21.08.2017.
2. The assessee in the present case is a company which is engaged in the business of manufacturing and cultivation of tea. The return of income for the year under consideration was originally filed by it on 11.10.2010 declaring a total income of Rs. 2,06,895/- after claiming deduction of Rs. 29,60,906/- u/s 80IE of the Act. Subsequently a revised return was filed by the assessee on 16.03.2011 declaring a total income of Rs. 2,06,894/- after claiming deduction of Rs. 33,88,317/- u/s 80IE of the Act. In the assessment completed u/s 143(3) vide an order dated 14.03.2013, the total income of the assessee was computed by the AO at Rs. 2,06,895/- as declared in the return of income originally filed. In the income tax computation form, he however determined the total income of the assessee at Rs. 3 1,17,800/- after disallowing apparently the claim of the assessee for deduction u/s 80IE and accordingly worked out tax payable by the assessee and interest thereon.
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