TAURUS FAMILY TRUST,MUMBAI vs. ITO, 23(3)(1), MUMBAI

The present appeal has been filed by the assessee challenging the impugned order 27.03.2024, passed u/s 250 of the Income Tax Act, 1961 (‘the Act’), by the learned Commissioner of Income Tax (Appeals), National Faceless Appeal Centre, Delhi (‘Ld. CIT(A)’), for the assessment year 2022-23.

At the very outset, the Ld. AR stated at bar that he is not pressing ground No. 1,2,3 & 5 as the same have become infructuous, in view of relief already granted to the assessee.

The only ground raised and pressed by the assessee is ground No. 4, wherein the assessee challenged the order of the Ld.CIT(A) in confirming the levy of interest u/s 234C of the Act. In this regard, the Ld. DR has placed on record the clarification made by the department, wherein the department has clearly admitted that no interest u/s 234C of the Act for the year under consideration may be charged to the assessee.

In view of the said admission on the part of department this ground raised by the assessee is allowed.

In the result, the appeal filed by the assessee stands partly allowed with no order as to cost.