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TMI Blog2019 (9) TMI 1239X X X X Extracts X X X X X X X X Extracts X X X X ..... terest arises at the time of filing return. The Explanation below this Section 140A of the Act in fact supports the above interpretation. As per this explanation, where the amount paid by the assessee under this section falls short of the aggregate of the tax and interest, the amount so paid shall first be adjusted towards the interest payable and the balance shall be adjusted towards the tax payable. The amount paid here will be the aggregate of the amount paid under this section not the individual amount. This exercise is to be done at the time when the return is being filed so that in case any assessee has not paid the full amount i.e. tax and interest then, the amount paid shall first be adjusted towards interest and liability to pay in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1. Whether, on the facts and in circumstances of the case and in law, the Hon ble ITAT was right in law in dismissing appeal of the Revenue observing that in view of categorical finding of the Supreme Court we hold that the CIT(A) was correct in holding that advance against depreciation cannot be added under the computation of the normal income , whereas the Hon ble Supreme Court in its decision dated 05.01.2010 has held that the advance against depreciation is income received in advance , thus making the said income subject to Charge under Chapter- II, as business income under Chapter-IV-D read with clause (i) of sub-section 24 of section 2 of the Income Tax Act? 2. Whethe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 5. Whether, on the facts and in circumstances of the case and in law, the Hon ble ITAT was right in law in deleting disallowance of ₹ 26,94,93,951/- made by the Assessing Officer in computing the book-profit u/s 115JB on a/c of provisions made for gratuity, leave encashment, post retirement medical benefits, LTC, Baggage allowance and Matching Contribution on Leave Encashment even when the assessee has failed to establish these provisions to be of ascertained in nature? 6. Whether, on the facts and in circumstances of the case and in law, the Hon ble ITAT was right in law in deleting disallowance of ₹ 1,00,19,424/- made by the Assessing Officer in c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the appellant-revenue by an order and judgment dated 28-2-2018 in the assessee s case in ITA No. 136 of 2015. Accordingly, these questions are decided against the appellant-revenue in terms of order and judgment dated 28-2-2018 in ITA No. 136 of 2015. Re: Questions No. 3 4 . 4. It is also agreed by the learned counsel for the parties that questions No. 3 4 are covered against the appellant-revenue by an order and judgment dated 21-3-2018 in the assessee s case in ITA No. 356 of 2015. Accordingly, these questions are decided against the appellantrevenue in terms of order and judgment dated 21-3-2018 in ITA No. 356 of 2015. Re: Question No. 8 . ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Act i.e. 234A, 234B 234C arise and at that time, if any, interest is payable under these provisions, the amount paid shall first be adjusted towards such interest. Accordingly, interest cannot be computed on the date when amount has been paid after 1st April but before filing of return. 8. The question of law that arises is whether the Assessing Officer was correct in computing interest on the date of payment of taxes by the assessee and adjusting the amount so paid towards interest. The provision of Section 140A of the Act in this respect are unambiguous. For the clarity the relevant provisions of Section 140A are reproduced here under:- .. 140A. ( 1) Where any tax is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n, assessed tax means the tax on the total income as declared in the return as reduced by the amount of tax deducted or collected at source, in accordance with the provisions of chapter XVII, or any income which is subject to such deduction or collection and which is taken into account in computing such total income. Xx xx xx.. 9. As per section 140A of the Act where any tax is payable on the basis of any return, the assessee shall be liable to pay such tax together with interest and the return is required to be accompanied by proof of payment ..... X X X X Extracts X X X X X X X X Extracts X X X X
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