9911796707
TMI Blog2016 (10) TMI 1399X X X X Extracts X X X X X X X X Extracts X X X X ..... For the Respondents : Vijay Goyal, CA. ORDER BHAGCHAND, MEMBER (A) 1. The Revenue has filed an appeal against the order of the ld. CIT(A), Jaipur-4 dated 23-12-2015 for the assessment year 2012-13 raising therein following grounds of appeal. 1. Whether on the facts and the circumstances of the case, the ld. CIT(A) was right in deciding that the amount lying in the PD Account can be justified as advance tax liability being the existing liability of the assessee. 2. Whether on the facts and the circumstances of the case the ld. CIT(A) was right in treating the appeal maintainable u/s. 249(4) of the I.T. Act without appreciating the fact that amount lying in the PD account cannot be adjusted against the existing liability of the assessee and a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d valuable inventorised and seized as under:- Jewellery valued by the DVO at Rs. 2,84,19,380/- Cash amounting to Rs. 46,22,500/- Aforementioned contents inventorised were found to be belonging to the assessee. In the sworn statement recorded on oath u/s. 132(4) of the Act on 03-08-2011, assessee admitted that all the jewellery items so inventorised from the Locker No. 378 belonged to her which was received as gift from time to time and cash found in the locker was received as sale proceeds of 20 gold biscuits (sold in April 2011). The assessee admitted in the sworn statement recorded on oath u/s. 132(4) of the Act that all valuables and cash which were found inventorised and seized from this locker belonged to her. Accordingly, the assessee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... On receipt of assessment order along with demand notice dated 10-03-2014, assessee requested for adjustment of seized cash amounting to Rs. 46,22,500/- lying PD account for advance tax Sept. 2011 liability. In this regard, assessee has assessment order submitted letters requesting for treating the same against the advance tax liability of Sept. 2011. However, AO did not agree to assessee's contention. In the meantime assessee also filed an application u/s. 154 of the Act for rectification of demand notice wherein credit of seized cash lying in PD A/c. was not allowed for advance tax adjustment. However, AO vide the order passed u/s. 14 of the Act dated 30-09-2014 has rejected assessee's application dated 20-03-2014. It is noted from ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ief Commissioner of Income Tax which was duly received and also to the Additional Director of Income Tax Investigation, Agra. It also seen that similar request for adjustment letters were written to the DCIT Circle-1, Agra on 29.03.2010 which was duly received in the office on the same day. Further, another letter was written to the CIT-1 on 21.03.2010. Letter dated 05/07/2010 was also written to the DCIT Central Circle stating that return of income for A.Y. 2010-11 had been filed on 30/6/10 with tax payable of Rs. 2,92,25,240/- and therefore requesting the AO once again for adjustment of tax liability with the cash lying in the PD account. In the circumstances, the assessee had done all it could do so as to ensure that cash lying in the PD ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nt of seized cash against advance tax liability and therefore, no interest could be charged u/s. 234A 234B in the event of the department no responding to assessee's request for adjustment of cash seized against advance tax liability. In view of the following judgments, the action of the AO in charging interest under 234A, 234B 234C is not justified and hence, directed to be deleted... In the light of the above facts and circumstances of the case and also respectfully following the decision of ITAT Agra Bench in the case of ACIT vs. Sunil C Gupta (Supra), we find no infirmity in the order of the ld. CIT(A) which is sustained. Thus the appeal of the Revenue is dismissed. 3. In the result, the appeal of the Revenue is dismissed. Order pro ..... X X X X Extracts X X X X X X X X Extracts X X X X
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