9911796707
TMI Blog2013 (11) TMI 578X X X X Extracts X X X X X X X X Extracts X X X X ..... to Rs.15,67,798/- was not deposited under self-assessment. An intimation/order dated 28.11.2008, passed on 28.11.2008 under Section 143 (1) of the Act, was served on the petitioner on 29.11.2008, creating tax liability on the petitioner company amounting to Rs.19,62,491/-. It is stated in paragraph 7 onwards in the writ petition that the petitioner's business slowed down in subsequent years, and there was scarcity of funds for depositing the demanded tax but the petitioner started making payments towards demanded tax even before intimation/order dated 28.11.2008. It had deposited Rs.25,000/- on 24.11.2008, and Rs.1,80,000/- during the period commencing from 24.11.2008 to 12.12.2008. At this stage, an order was passed under Section 226 (3) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ts of para 6 of the writ petition, it is submitted that the petitioner filed return for the Assessment Year 2007-08, relevant to Financial Year 2006-07 on 31.10.2007. In the return filed by him, admitted liability of Rs.15,69,359/- under the provisions of Section 115 JB of the Income tax Act 1961. The petitioner was required to pay this tax by 31.03.2007 and in any case before filing of return i.e. 31.10.2007. This is a liability, which has been admitted by the petitioner himself in its return of income filed on 31.10.07. It is a submitted that the order under Section 143 (1) of the Act has been passed on 28.11.2008, creating a liability of Rs.19,62,491/- is the matter of fact just and correct. As per the provisions of Section 140 A(1), the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as no question of giving time , to pay the tax by giving instalments for which there is no provision under the Act or Rules. Sri Govind Krishna submits that the tax deposited by the petitioner as M.A.T Company can be carried forward and set off in accordance with provisions of sub-sections (4) and (5) of Section 115 JAA of the Act. There is no provision under the Act to refund the tax deposited. Provisions of sub-sections (4) of Section 115 JAA, provide that tax credit shall be allowed and set off in a year when tax become payable on the total income computed in accordance with the provisions of the Act other than Section 115 JA or Section 115 JB, as the case may be. The set off as provided under sub section (5) is in respect of brought fo ..... X X X X Extracts X X X X X X X X Extracts X X X X
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