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TMI Blog2024 (6) TMI 334X X X X Extracts X X X X X X X X Extracts X X X X ..... igible to get the refund - Assessment was completed and the refund of the excess was to be payable to the Assessee, which was not given. The computation of the tax payable by or refund due to the Assessee is determined only after adjusting the amounts of tax deducted at source, tax collected at source, any advance tax paid, etc. by the Assessee, from the tax, which was required to be paid by it, as per section 143(1)(c) of the Act. The refund generated to the Assessee was Rs. 65,99,880/- whereas the correct refund was Rs. 73,40,257/-. Hence, refund was short paid to the Assessee by Rs. 7,40,377/-. Since the Assessee had already paid this amount in the form of Advance tax and TDS, refund was to be given to it. The excess tax paid by the Asse ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 143(3) read with section 263 of the Act was completed on 15.03.2016 assessing total income at Rs. 21,74,83,160/-. 4. Aggrieved, the Assesses filed an appeal before the Ld. CIT(Appeals), Rohtak. The Ld. CIT(Appeals), Rohtak vide order no. 23/2016-17 dated 08.08.2019 partly allowed the appeal of the Assessee by restriction the original addition of Rs. 95,95,186/- made on account of disallowance under section 40(a)(ia) to Rs. 57,86,079/-. Other additions were also deleted. 5. Aggrieved, the Assessee appealed before the ITAT against the order of Ld. CIT(Appeals). The Revenue also preferred appeal before the ITAT, New Delhi in ITA no. 8502/DEL/2019 on 31.10.2019 against the above- mentioned order. 6. Meanwhile, the ITAT in the appeal filed by t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ,40,377/-.' 10. The request of the Assessee was disposed off by the AO vide order dated 04.10.2021. The Assessee again filed the application under section 154 claiming the refund of Rs. 7,40,377/-. But again, the same was not allowed to the Assessee stating that credit of these prepaid taxes of Rs. 7,40,377/- (TDS Rs. 1,35,496/- and the Advance Tax Rs. 6,04,881/-) has neither been claimed in the return of income nor during the assessment proceedings under section 143(3). Aggrieved, the Assessee preferred appeal before the ld. CIT(A) who dismissed the appeal of the assessee. 11. Aggrieved by the order under section 154 of the Act, the Assessee filed the appeal in Form 35 on 22.01.2022. 12. While dismissing the appeal of the assessee seek ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the previous year for an assessment for the assessment year next following the financial year in which it was payable, and credit therefor shall be given to the assessee in the regular assessment 18. From above the Assessee was required to be given the credit of the Advance tax of Rs. 6,04,881/- because it was paid in excess. The amount computed by the department as Advance tax was Rs. 6,04,881/- less than the one shown in Form 26AS. 19. Section 237 of the act states that, 237. Refunds If any person satisfies the [Assessing Officer] that the amount of tax paid by him or on his behalf or treated as paid by him or on his behalf for any assessment year exceeds the amount with which he is properly chargeable under this Act for that year, he sha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... refund due to the Assessee is determined only after adjusting the amounts of tax deducted at source, tax collected at source, any advance tax paid, etc. by the Assessee, from the tax, which was required to be paid by it, as per section 143(1)(c) of the Act. The refund generated to the Assessee was Rs. 65,99,880/- whereas the correct refund was Rs. 73,40,257/-. Hence, refund was short paid to the Assessee by Rs. 7,40,377/-. Since the Assessee had already paid this amount in the form of Advance tax and TDS, refund was to be given to it. 23. The excess tax paid by the Assessee can clearly be seen from Form 26AS of the AY 2010-11, Advance tax paid amounting to Rs. 33,71,360/- and Tax deducted at source Rs. 44,68,604/-. The Assessee has shown t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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