SMS GROUP GMBH,NEW DELHI vs. ACIT, CIRCLE 3(1)(2), INTERNATIONAL TXATION, NEW DELHI

Ground No. 8 raised by the assessee is challenging the chargeability of interest u/s 234B and 234C of the Act. The chargeability of interest u/s 234B of the Act is consequential in nature. With regard to interest u/s 234C of the Act, the law is very well settled that same shall be charged only on the returned income and not on the assessed income.

In the result, the appeal of the assessee in for AY 2021-22 is Partly allowed. for AY 2022-23 (assessee’s appeal)

Ground Nos. 1, 2 and 8 raised by the assessee are general in nature and does not require any specific adjudication.

Ground No. 3, 4, 5 and 6 raised by the assessee for AY 2022-23, identical to Ground Nos. 3 to 6 and 8 raised by the assessee for assessment 2017-18. Hence, the decision rendered by us thereon for AY 2017-18 supra shall apply mutatis mutandis for AY 2022-23 also in view of identical facts, except with variance in figures.

Ground No. 7 raised by the assessee is challenging the chargeability of interest u/s 234B and 234C of the Act. The chargeability of interest u/s 234B of the Act is consequential in nature. With regard to interest u/s 234C of the Act, the law is very well settled that same shall be charged only on the returned income and not on the assessed income.

In the result, the appeal of the assessee is partly allowed in for AY 2022-23.

To sum up, all the appeals of the assessee are partly allowed.