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TMI Blog2023 (2) TMI 86X X X X Extracts X X X X X X X X Extracts X X X X ..... ng which has to be established by a long drawn process of reasoning on the points on which there may be conceivably two opinions. A.O was wrong in resorting to section 154 of the Act to withdraw the excess interest granted u/s 244A of the Act to the assessee as it was not something mistake apparent from record. Hence, the ld. CIT(A) dismissed the order of the A.O passed u/s 154 of the Act. We do not find any infirmity with the findings of the ld. CIT(A) and the relief provided to the assessee is sustained. The grounds of appeal of the Revenue are dismissed. - ITA No. 03/PUN/2020 - - - Dated:- 31-1-2023 - Shri R.S. Syal, Vice President And Shri Partha Sarathi Chaudhury, Judicial Member For the Appellant : Shri Ramnath P. Murkunde ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in Circular No. 3/2018 dated 11.07.2018 as amended by Board's letter dated 20.08.2019. 6. It is therefore prayed that CIT(A) s order be set aside and order of the A.O be restored. 2. The relevant facts are that assessee is a limited company engaged in the business of Civil Construction, Infrastructure Project Development etc. The A.O passed order u/s 143(3) r.w.s. 147 of the Income-tax Act, 1961 (hereinafter referred to as the Act ) assessing total income at Rs. 78,59,55,690/-. On perusal of the tax sheets it was unveiled that assessee had paid tax of Rs. 27,92,00,346/- with refund amount of Rs. 1,31,70,894/-, along with interest u/s 244A of the Act of Rs. 11,24,680/-. As the refund amount was less than 10% of the assessed t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he assessee relied upon Bombay High Court Case in the case of D. Swarup, ITO vis Gammon India Ltd. (141 ITR 841). However, the assessing officer was of the opinion that the case law is not applicable to the facts of assessee's case. The case law relied upon by the appellant tries to clarify the meaning of the expression 'regular assessment' in the context of section 273. Be that as it may, on the perusal of the above discussions it is apparent that there are varying opinions about the meaning of 'regular assessment'. That being so the rectification of the order u/s 154 withdrawing the interest granted u/s 244A, is not a mistake apparent from record. For the simple reason that there are more than one opinion on the m ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... order u/s 143(3) r.w.s. 147 by an order u/s 154 of the Act and withdrew the excessive interest u/s 244A of the Act. On the refund granted to the assessee the assessee contended that as per proviso to section 244A clause (1) sub-section (b) of the Act excludes grant of interest for those cases where the tax was determined under sub-section (1) of section 143(3) or on regular assessment. In support of his argument, the assessee relied on decision of the Hon‟ble Bombay High court in the case of D. Swarup ITO Vs. Gammon India Ltd. (1983) 141 ITR 841 (Mum). However, the A.O held that this case law is not applicable to the facts of the assessee‟s case and that the meaning of expression regular assessment is in the context of sectio ..... X X X X Extracts X X X X X X X X Extracts X X X X
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