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Income Tax Appellate Tribunal, DELHI BENCH: “A”, NEW DELHI
Before: SHRI RAJ PAL YADAV & SHRI N.K. BILLAIYA
This appeal by the Revenue is preferred against the order of the Ld.
CIT(A)-17, New Delhi, dated 05.10.2016 pertaining to the A.Y. 2013-14. The grievances of the Revenue are as under:-
“1. The Ld. CIT(A) has erred in law and facts in not considering the AO’s remarks given in remand report while deleting the addition of Rs. 57,43,013/- out of addition of disallowance of investment u/s 54 of the Act.
2. The Ld. CIT(A) has erred in law and facts in deleting the disallowance of Rs. 3,41,212/- made by the AO on account of disallowance of indexed cost of improvement.
3. The Ld. CIT(A) has erred in law and on facts in considering the additional submission of the assessee in spite of objection raised by the AO during remand proceedings.
4. The Ld. CIT(A) has erred in law and on facts in not considering that the assessee does not cover under the board’s circular no. 672 dated 16/12/1993 as the assessee has not purchased the flat from and institutions. In fact, the assessee has purchased the flat from resale market from an individual. “
As per the Tax Calculation Sheet, which read as under:-
TAX CALCULATION
Gross Tax 18,96,139 2. Rebate 3. Surcharge 4. Education Cess 56,884 5. Tax Credit u/s 115JAA/115JD 6. Relief U/s 89(1)/U/s 90/ U/s 91 7. Net Tax 19,53,023 8. Interest U/s 234A 8a. Delay period 9. Interest u/s 234B 6,33,454 10. Interest u/s 234C 11. Gross Demand 25,86,477
TAXES PAYMENT DETAILS 1. TDS/TCS 89,913 2. Advance Tax 0 3. Self Assessment Tax 3,380 4. Regular Assessment Tax 3,380
Amount already refunded 0 6. Total Tax paid 93,293
DIVIDEND DISTRIBUTION TAX DETAILS 1. Additional Income Tax and Interest Payable on distributed profits 0 2. Additional Income Tax and Interest Paid 0 FINAL DETAILS 1. Total tax and Interest Payable 2493184 2. Interest nu/s 244A 0 3. Interest made u/s 244A recovered 4. Delay period attributable to Assessee 5. Interest u/s 234D 6. Interest u/s 220
A perusal of the above shows that the Tax including Surcharge is less than Rs. 20 lacs and therefore, this appeal by the Revenue is dismissed, in the light of the CBDT Circular No 3 of 2018 dated 11/07/2018.
In the result, appeal of the Revenue is dismissed.
Order pronounced in the open court on 24/8/2018