9911796707
TMI Blog2024 (7) TMI 403X X X X Extracts X X X X X X X X Extracts X X X X ..... r in appeal for other proceedings under the Act are covered by the provisions of Section 240 of the Act. No denying to this fact as an order u/s 251/154/147/143(3) of the Act has been passed by ACIT, Circle-8(2), Kolkata determining the refund of the assessee As we have already discussed in the preceding paragraphs that ACIT, Circle-8(2), Kolkata 31.01.2018 determines the refund of the assessee at the rate of Rs. 27,04,767/- hence, in our view the claim of the point of the assessee is covered u/s 240 of the Act and not u/s 239 of the Act as held by the AO and confirmed by the CIT(A). Accordingly, the case of the assessee is hereby allowed by setting aside the orders of ld. AO and ld. CIT(A) and the assessee is entitled to get the refund amo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ts return of income on 18.12.2015 in response to the notice u/s 148 of the Act dated 16.10.2015 i.e. after one year from the last date of the relevant assessment year. Accordingly, the claim of the refund made by the assessee is denied. The said order of ld. AO has been confirmed by ld. CIT(A) that impugned order is under challenge. 3. Ld. Counsel for the assessee challenges the impugned order thereby submitting that ld. AO as well as ld. CIT(A) have erred in law and facts and circumstances of the case thereby denying the grant of the refund to the appellant by taking the resort to the provisions of Section 239(2)(c) of the Act ignoring the fact that in the present case Section 240 of the Act will be applicable as the refund is made consequ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... for the assessment year 1993-94 on 29.03.1996. Admittedly, it was return filed beyond the limitation time. However, the Officer issued a notice under Section 143(2) of the Income Tax Act, 1961 (hereinafter called as the Act ) on 23.04.1996. Ultimately, the order of assessment was made on 29.10.1998. Both the orders state that it was under Section 143(3) of the Act and the time limit for passing the regular assessment had expired. One can only view this order as the order passed under Section 143(3) read with 147 of the Act as had been read in the order of the Commissioner of Income Tax (Appeals). The assessee claimed refund of Rs. 4,03,675/-. However, the Assessing Authority rejected the claim based on Section 239(2)(c), wherein, the time l ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of interest in cases, where the assessee is entitled to refund even without making an application in contract to cases where on application, refund to be granted would carry no interest. 9. Thus, on a return filed, where there is determination of income under the Act and the assessment order relates to refund to be granted to the assessee as per Section 243(l)(a) of the Act, refund has to be granted within a period of three months. If the Assessing Officer does not grant the refund, the refund would carry interest as contemplated under Section 243(l)(b) of the Act. 10. Learned Standing counsel for the Revenue pointed out that even the case on hand would fall under Section 239 of the Act. We do not think such view could be sustained having r ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
