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Income Tax Appellate Tribunal - Mumbai

Nayan Builders And Developers P.Ltd, ... vs Ito 7(1)(1), Mumbai on 13 November, 2018

                  IN THE INCOME TAX APPELLATE TRIBUNAL
                              "B" Bench, Mumbai
            Before S/Shri B.R. Baskaran (AM) & Sandeep Gosain (JM)

             I.T.A. No. 5511/Mum/2013 (Assessment Year 1997-98)

            Nayan Builders and            ITO 7(1)(1)
            Developers Pvt. Limited   Vs. Aayakar Bhavan
            Virchand K. Korani            6 t h Floor
            Shamrock Building             Room No. 621
            2 n d Floor, Plot No. 308     M.K. Road
            S.K. Bole Road                Mumbai-400 020.
            Opp. Dsilva School
            Dadar(W), Mumbai-400 028.

            PAN : AAACN1198H
            (Appellant)                          (Respondent)

               Assessee by                 Shri Abdul Khairat
               Department by               Shri D.G. Pansari
               Date of Hearing             13.11.2018
               Date of Pronouncement       13.11.2018

                                   ORDER

Per B.R. Baskaran (AM) :-

The appeal filed by the assessee is directed against the order dated 16.5.2013 passed by the learned CIT(A)-13, Mumbai and it relates to A.Y. 1997-98. Grounds of appeal filed by the assessee relate to interest charged u/s. 234A, 234B and 220(2) of the Act.

2. We have heard the parties and perused the record. Grievance of the assessee is that there is computational error in calculation of interest charged u/s. 234A, 234B and 220(2) of the Act. The person appearing on behalf of the assessee submitted that the assessee has paid a sum of Rs 9,75,000/- in aggregate since January, 2013 onwards and the credit for the same has not been given. Accordingly, the learned AR prayed that the matter may be restored to the file of the Assessing Officer for computing interest under above said sections afresh by duly considering the tax of Rs 9,75,000/- paid by the assessee.

N ay a n B u i l d e r s an d D e v e l o p er s P v t. L i m i te d

3. Learned DR did not object to the plea put forth by the assessee.

4. Having regard to the submissions, we restore the issue to the file of the Assessing Officer for examining the claim of the assessee afresh by duly considering the tax payment made by the assessee.

5. In the result, the appeal filed by the assessee is treated as allowed for statistical purposes.

Order has been pronounced in the Court on 13.11.2018.

            Sd/-                                          Sd/-
      (SANDEEP GOSAIN)                              (B.R.BASKARAN)
      JUDICIAL MEMBER                            ACCOUNTANT MEMBER

Mumbai; Dated : 13/11/2018

Copy of the Order forwarded to :

     1.   The Appellant
     2.   The Respondent
     3.   The CIT(A)
     4.   CIT
     5.   DR, ITAT, Mumbai
     6.   Guard File.
                                                           BY ORDER,
                //True Copy//

                                                     (Senior Private Secretary)
PS                                                       ITAT, Mumbai