January 2019

Section 234A When the taxes have been deposited before the original due date of filing of return of income even though the return has been filed within the extended due date so notified by the CBDT, there would not be any levy of interest u/s. 234A where the returned income has been accepted or where the taxes deposited are higher than the taxes finally determined by the AO.

Jagdish T. Punjabi / Devendra Jain / Tejaswini Ghag
Chartered Accountants

22.  [2018] 196 TTJ 768 (JP Trib.) Rajasthan State Mines & Minerals Ltd vs. ACIT ITA No.:  47/Jp/2018  A.Y.:  2014-15.Dated: 24th October, 2018

                                  

Section 234A When the taxes have been deposited before the original due date of filing of return of income even though the return has been filed within the extended due date so notified by the CBDT, there would not be any levy of interest u/s. 234A where the returned income has been accepted or where the taxes deposited are higher than the taxes finally determined by the AO.

 

FACTS


The due date of filing of return of income for A.Y.2014-15 was extended by the CBDT vide its order u/s. 119 from 30.9.2014 to 30.11.2014. The assessee filed the return on 28.11.2014. The assessee had paid self-assessment tax well before the original due date of filing return of income. The AO while working out the interest u/s. 234A had not given credit of self-assessment tax paid by the assessee. Aggrieved by the assessment order, the assessee preferred an appeal to the CIT(A). The CIT(A) confirmed the same.

 

HELD

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