Case Law Details
Case Name : ABB Limited Vs Additional CIT (ITAT Bangalore)
Appeal Number : ITA No.440/Bang/2012
Date of Judgement/Order : 08/03/2022
Related Assessment Year : 2006-2007
Courts :
All ITAT ITAT Bangalore
Become a Premium member to Download.
If you are already a Premium member, Login here to access.
Sponsored
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 exam
Please become a Premium member. If you are already a Premium member, login here to access the full content.
Sponsored
Kindly Refer to
Privacy Policy &
Complete Terms of Use and Disclaimer.
“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