2021 (4) TMI 337

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..... 143(3) of the Act in favour of the assessee - The Revenue challenged the same before the Hon ble High Court of Bombay and there was no contrary order either by reversing or modifying the order of this Tribunal - HELD THAT:- CIT(A) rightly held the order of this Tribunal is holds the field today and supported the impugned order. We find force in the arguments of ld. AR the AO ought not to have lev .....

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..... ded is as to whether the CIT(A) justified in deleting the interest levied u/s. 234B and 234C of the Act on the revised book profit in the facts and circumstances of the case. 3. Heard both the parties and perused the material available on record. The assessee is a company and engaged in the manufacturing of specialized seamless tubes. Originally the assessee filed return of income on 31-10-2007 .....

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..... para 4 of the AO and para 11 of the CIT(A) that this Tribunal granting relief in favour of the assessee regarding the interest levied u/s. 234B and 234C of the Act. Against which the Department preferred an appeal before the Hon ble High Court of Bombay, which is pending as of now. 4. As matter stood thus, on 09-08-2011 a search action u/s. 132 of the Act was conducted in the case of assessee .....

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..... pect of levy of interest u/s. 234B and 234C of the Act and the interest so levied by the AO in the assessment order passed u/s. 153A r.w.s. 143(3) of the Act is bad under law. We note that the CIT(A) considered the submissions of assessee in para 11 of the impugned order and opined since there is no order contrary to the findings of this Tribunal, held the AO was not justified in imposing the inte .....

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..... the same before the Hon ble High Court of Bombay and there was no contrary order either by reversing or modifying the order of this Tribunal. He submits that the CIT(A) rightly held the order of this Tribunal is holds the field today and supported the impugned order. We find force in the arguments of ld. AR the AO ought not to have levied interest as there was no order from Hon ble High Court of B .....

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