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Facts
The assessee filed an appeal challenging the order of the CIT(A) regarding assessment year 2022-23. The assessee withdrew grounds 1, 2, 3, and 5 as they had become infructuous. Ground 4 challenged the levy of interest under section 234C.
Held
The Tribunal noted that the department admitted that no interest under section 234C was leviable for the year under consideration. Based on this admission, the ground raised by the assessee was allowed.
Key Issues
Whether interest under section 234C was rightly levied by the lower authorities.
Sections Cited
234C, 250
AI-generated summary — verify with the full judgment below
Income Tax Appellate Tribunal, “E” BENCH MUMBAI
Before: SHRI SANDEEP GOSAIN & SHRI PRABHASH SHANKAR
Assessee by Shri Nitesh Joshi Revenue by Shri Hemanshu Joshi, Sr. DR सुनवाई क" तारीख/Date of Hearing 27.11.2024 घोषणा क" तारीख/Date of Pronouncement 18.12.2024 आदेश / ORDER
PER SANDEEP GOSAIN, JM:
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.
2 Taurus Family Trust, Mumbai Therefore considering the said statement the ground No. 1,2,3 & 5 stands dismissed as infructuous.
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.