9911796707
TMI Blog2017 (12) TMI 307X X X X Extracts X X X X X X X X Extracts X X X X ..... ct, 2001 w.e.f. 1st April 2002, any sum payable by the assessee as an employer in lieu of any leave at the credit of his employee is allowable in the relevant previous year, wherein, such amount was actually paid. Keeping in view the aforesaid statutory provision, we direct the Assessing Officer to verify assessee’s claim and allow it in the assessment year, wherein, the assessee has actually paid the amount towards leave encashment. This ground is allowed for statistical purposes. Disallowance of deduction claimed for write–off of provisions for bad and doubtful debts - Held that:- Tribunal did not allow assessee’s claim as it was in the nature of provision. He submitted, in the impugned assessment year also, the assessee has not actually written–off the provision. He submitted, the Assessing Officer may be directed to allow assessee’s claim in the assessment year, wherein, the amount is actually written–off. In view of the aforesaid submissions of the assessee, we restore the issue to the file of the Assessing Officer to examine assessee’s claim and allow it in the year of actual write–off subject to fulfillment of other conditions of the Act. This ground is allowed for statis ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nvestments from disallowance under section 14A where the assessee had offered the dividend income for taxation. 5. Learned Authorised Representative submitted before us, in the relevant previous year, the assessee has not earned any exempt income byway of dividend, therefore, no disallowance under section 14A should be made. 6. Learned Departmental Representative relied upon the observations of the Assessing Officer. 7. We have heard rival contentions and perused the material available on record. The specific contention of the assessee before us is, in the relevant previous year, it has not earned any exempt income by way of dividend. In fact, the learned Counsel for the assessee has made this contention in writing before us. On a perusal of the impugned assessment order or even the order of the first appellate authority, we do not find any finding of fact recorded by them that in the relevant previous year the assessee has earned any exempt income by way of dividend. It appears from the orders of the Departmental Authorities that the disallowance under section 14A r/w rule 8D has been made considering the fact that investments made by the assessee in the equity shares of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... judication. 15. Besides the aforesaid grounds, the assessee has raised following effective additional grounds: 1. That on the facts and in the circumstances of the case, the appellant be allowed deduction of provision for bad and doubtful debts of ₹ 5,95,24,304 in computation of book profit under section 115JB erroneously included by the Assessing Officer. 2. That on the facts and in the circumstances of the case and in law, the appellant be allowed credit of tax of ₹ 1,60,00,000, paid by the appellant on 31.03.2009, erroneously not allowed by the Assessing Officer. 3. That On the facts and in the circumstances of the case and in law, levy of interest under section 234B and 234C corresponding to the tax of ₹ 1,60,00,000 paid by the appellant on 31.03.2009, be deleted. 16. Additional grounds no.4 and 5 being general in nature do not require adjudication. 17. As far as additional grounds no.1, 2 and 3 are concerned, the learned Authorised Representative submitted, adjudication of these grounds do not require investigation into fresh facts and can be decided on the basis of facts and material already available on record. Hence, additi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o the file of the Assessing Officer to examine assessee s claim and allow it in the year of actual write off subject to fulfillment of other conditions of the Act. This ground is allowed for statistical purposes. 20. As far as additional grounds no.2 and 3 are concerned, the facts are, the assessee on 31st March 2009, paid an amount of ₹ 1.60 crore through challan towards payment of advance tax for the assessment year 2009 10. Subsequently, assessee vide letter dated 20th February 2009, stated before the Assessing Officer that the said amount was wrongly paid towards advance tax for assessment year 2009 10 and the assessee actually intended to pay the said amount for assessment year 2010 11. He further submitted that it will not claim credit for the said amount in assessment year 2009 10 and requested the Assessing Officer to credit the said amount towards assessee s tax liability for assessment year 2010 11. Keeping with its declaration, assessee filed its return of income for the assessment year 2009 10 without claiming credit for the tax paid of ₹ 1.60 crore. However, while filing the return of income for assessment year 2010 11, the assessee claimed credit for th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... claim. Only after the disposal of assessee s appeal for assessment year 2010 11 by the first appellate authority, the Assessing Officer while giving effect to the directions of the learned Commissioner (Appeals) has decided to credit the amount of ₹ 1.60 crore for the assessment year 2009 10. In the process, six long years have passed from the date assessee claimed before the Assessing Officer to credit the tax payment of ₹ 1.60 crore towards advance tax for assessment year 2010 11. It is apparent, due to inaction of the Assessing Officer in giving credit to the tax paid of ₹ 1.60 crore in a particular assessment year, the assessee was saddled with the levy of interest under section 234B and 234C. Had the Assessing Officer decided assessee s claim made vide letter dated 22nd September 2009, within a reasonable time the assessee could have taken appropriate steps for either payment of advance tax for impugned assessment year or other remedial measures in the matter. However, since this issue is raised for the first time before us, while admitting the additional grounds, we are inclined to restore the matter to the file of the Assessing Officer for verifying assess ..... X X X X Extracts X X X X X X X X Extracts X X X X
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