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TMI Blog2023 (4) TMI 726X X X X Extracts X X X X X X X X Extracts X X X X ..... ax liability computed on the total income. It shall be needless to mentioned that, by virtue of provisions of sub-section (2) to section 243A, the interest payable under sub-section (1) shall be reduced by the interest, if any, paid u/s 140A towards the interest chargeable thereunder. In the extant appeal, since the appellant in terms of section 234A(1) computed the interest accrued on each occasion of payment by instalment on the outstanding balance of taxes due to ex-chequer and discharged the entire tax liability alongwith interest accrued thereon before filing of his return, we finding no fault with the computation of interest liable u/s 234A, hold the orders of both the Ld. TAB as erroneous, consequently we set-aside the order of Ld ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... holding that; 5.2 Appellant s submissions were carefully considered. Return of income filed by the appellant on 17/10/2020 whereas original date of filing of return of income was 31/07/2020 which was further extended to 10/01/2021 (for Non Audit cases) for the purpose of filing for return of income only not for the calculation of interest (if the interest is amount is less than Rs.1,00,000/- only). It appears that there is three (3) months delay in filing of return of income for the purpose of calculating of interest u/s 234A. However for the Assessment Year 2020-21, as per the Notification No. 35/22020/F.No. 370142/23/2020-TP, if assessee had tax payable exceeding Rs. 1,00,000/- for the purpose of section 234A due date extension was ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t u/s 234A can be levied and we see there is hardly any issue between the parties to dispute to dwell upon in the light of decision of Hon ble Supreme Court in CIT Vs Prannoy Roy reported in 309 ITR 231, whereby their lordships have settled down the issue in favour of assessee by dilating the scope of term advance tax to subsume all the taxes paid before filing of return and further have categorically held that, interest u/s 234A would be payable in a case only where tax has not been deposited prior to date of filing of the tax return. 4. We also note that, the claim of the assessee in substance finds solidified by the CBDT Circular No 2/2015 dt. 10/02/2015, whereby the department has accepted the aforestated settled position to the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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