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TMI Blog2023 (7) TMI 857X X X X Extracts X X X X X X X X Extracts X X X X ..... s appeal is allowed. - ITA No. 1293/Mum./2023 - - - Dated:- 19-7-2023 - Shri Prashant Maharishi, Accountant Member And Shri Sandeep Singh Karhail, Judicial Member For the Assessee : Shri Ronak Doshi a/w Shri Priyank Gandhi For the Revenue : Shri Ashok Kumar Ambartha ORDER PER SANDEEP SINGH KARHAIL, J.M. The present appeal has been filed by the assessee challenging the impugned order dated 23/02/2023, passed under section 250 of the Income Tax Act, 1961 ( the Act ) by the learned Commissioner of Income Tax (Appeals), Delhi, National Faceless Appeal Centre, [ learned CIT(A) ], for the assessment year 2017 18. 2. In its appeal, the assessee has raised the following grounds: 1. On the facts and in circumst ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e record, are that the assessee is a non-banking financial company. For the year under consideration, the assessee originally filed its return of income on 30/10/2017 declaring a total income of Rs. 45,55,02,970. Subsequently, the return of income was revised and ultimately total income of Rs. 45,57,14,293 was declared under the normal provisions of the Act and Rs. 49,89,29,337 under section 115JB of the Act. Since the tax payable under the MAT was higher than the normal provisions of the Act, the tax liability was discharged under the MAT provisions by way of advance tax, and a refund was determined amounting to Rs. 10,21,755. The said revised return was processed vide intimation dated 12/04/2009 issued under section 143(1) of the Act, whe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d by the assessee on the next due date of advance tax, which in the facts and circumstances of the present case was 15/03/2017. Thus, we are of the considered view that in terms of the 1st proviso to section 234C(1) of the Act, interest under section 234C of the Act was wrongly levied vide intimation issued under section 143(1) of the Act. Accordingly, we direct the AO to delete the interest levied under section 234C of the Act. As a result, ground no.3(i) raised in assessee s appeal is allowed. 7. In view of our aforesaid findings, other issues raised in assessee s appeal are rendered academic and therefore, are left open. 8. In the result, the appeal by the assessee is allowed. Order pronounced in the open Court on 19/07/2023 - ..... X X X X Extracts X X X X X X X X Extracts X X X X
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