Assistant Commissioner Of Income Tax vs M/S Indian Oil Corporation Ltd. on 7 August, 2018
21. The last issue relates to the levy of interest u/s 234D of the Act. The
Ld A.R fairly admitted that this issue has been decided against the assessee
by Hon'ble Bombay High Court in the case of CIT vs. Indian Oil Corporation
Ltd (2012)(25 taxmann.com 284)(Bom). We notice that the Ld CIT(A) has
decided this issue against the assessee. However, he has directed the AO
to verify the computational error pointed by the assessee. In view of the
above said binding decision, we confirm the order passed by Ld CIT(A).