SEVA BHARTI,RANCHI vs. ITO (EXEMPTION) WARD, RANCHI

ITA 289/RAN/2018Status: DisposedITAT Ranchi09 January 2019AY 2009-103 pages
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What did the Tribunal hold?

The Tribunal held that the rectification petitions were time-barred as they were filed after the expiry of the four-year period stipulated under Section 154(7) of the Act. However, the Assessing Officer was directed to recompute the Section 234B interest as per the jurisdictional High Court's decision.

What were the facts?

The assessee, a charitable institution, filed rectification petitions under Section 154 of the Income Tax Act, 1961, seeking correction of errors in their assessment orders for AY 2009-10 and 2010-11. These petitions were filed beyond the statutory time limit.

What were the issues?

Whether rectification petitions filed beyond the statutory time limit under Section 154 are maintainable. Whether Section 234B interest should be computed on returned or assessed income.

Which sections of the Income-tax Act were involved?

Section 154,Section 143(1),Section 234B

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, RANCHI BENCH “SMC”, RANCHI

Before: SH. S.S.GODARA

Hearing: 07.01.2019Pronounced: 09.01.2019

PER SH. S.S.GODARA, JUDICIAL MEMBER These two assessee’s appeals for AY 2009-10 & 2010-11 arise against the order dated 08.06.2018 passed by the CIT(A), Ranchi in Appeal No.CIT(A), Ranchi/10187/2017-18 and CIT(A), Ranchi/10188/2017-18 respectively, in proceedings u/s 154 of the Income Tax Act, 1961 (in short “the Act”). Heard both the parties. Case files perused.

2.

Ld. Counsel at the outset takes me to CIT(A)’s identical discussion upholding the Assessing Officer’s action declining its section 154 petition with the following reasoning:- 5. “The appellant stated that the appellant is a charitable institution having registration u/s 12AA of the Act. Income of the appellant was exempt in the past and in the future Assessment Years.

The order continues below.

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