9911796707
TMI Blog2024 (11) TMI 1214X X X X Extracts X X X X X X X X Extracts X X X X ..... pplication, the AO should not take any adverse action against the assessee. Ground No. 1 is accordingly disposed off. TP adjustment - international transaction of payment for intra-group support services availed by the Assessee from its AEs - HELD THAT:- As assessee, pointed out that the quarrel has been settled through an unilateral Advance Pricing Agreement (APA) made on 27/03/2024 between the CBDT and the assessee and one of the terms of the agreement is that the agreement shall apply to consecutive five (5) years commencing from 2015-16 to 2019-20, meaning thereby for AYs 2016-17 to 2020-21, which includes the assessment year under consideration. The assessee has also filed modified return of income on 25/06/2024. Thus AO is directed to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... No. 93/2020, F. NO. 370142/35/2020 TPL dated 31/12/202 0 - HELD THAT:- AO is directed to verify whether the Board has extended the due date of filing the return of income and if so, verify whether the assessee has filed the return of income on or before the extended date and if found correct, not to levy interest u/s 234A of the Act. This Ground is also allowed for statistical purposes. Levy of interest u/s 234B of the Act which will be levied by the AO after giving appeal effect to our order as per the provisions of the law a Non-granting of the credit for dividend distribution tax (DDT) - AO is directed to verify the claim of the DDT from the challan to be furnished by the assessee and if found correct, allow the credit. These Grounds ar ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ,25,000 (being 50% of INR 18,50,000 being aggregate of Corporate Social Responsibility (CR) expenditure eligible for deduction under section 80G of the Act). 4. On the facts and in the circumstances of the case and in law, the learned AO has erred in levying the interest under section 234A of the Act amounting to INR 14,01,639 disregarding the fact that the return of income was filed within the due date, as extended by Hon'ble Central Board of Direct Taxes (CBDT) vide Notification No. 93/2020 [F. No. 370142/35/2020-TPL] dated 31 December 2020 and there was no tax liability which was not discharged by the appellant. 5. On the facts and in the circumstances of the case and in law, the learned AO has erred in levying the interest under sec ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nsecutive five (5) years commencing from 2015-16 to 2019-20, meaning thereby for AYs 2016-17 to 2020-21, which includes the assessment year under consideration. The assessee has also filed modified return of income on 25/06/2024 as per e-Acknowledgement No. 496226131350624. 4.1. With these facts on record, the AO is directed to re-decide the issue afresh considering the APA (supra) and the modified return of income (supra). Accordingly, Ground No. 2 is allowed for statistical purposes. 5. Ground No. 3 relates to the denial of deduction claimed u/s 80G of the Act. While scrutinising the return of income, the AO noticed that the assessee has debited Rs. 31,38,295/- on account of Corporate Social Responsibility (CSR). The assessee has added ba ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... should be provided adequate opportunity of hearing and shall co- operate in submitting the information and we allow the ground of appeal of the assessee for statistical purposes. 9. On perusal of above, it is clear that after considering the position taken by the Assessing Officer and the objections raised by the Appellant, the DRP concluded that even though deduction for CSR Expenses was not allowable under Section 37 of the Act (in view of the Explanation 2 to Section 37 of the Act inserted by the Finance Act, 2014, with effect from 01.04.2015), there was no bar for allowance of the same under Assessment Year: 2018-19 Section 80G of the Act (except for the donations made to the Swach Bharat Kosh and the Clean Ganga Fund), provided all th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 93/2020, F. NO. 370142/35/2020 TPL dated 31/12/2020. 8.1. The AO is directed to verify whether the Board has extended the due date of filing the return of income and if so, verify whether the assessee has filed the return of income on or before the extended date and if found correct, not to levy interest u/s 234A of the Act. This Ground is also allowed for statistical purposes. 9. Ground No. 5 relates to the levy of interest u/s 234B of the Act which will be levied by the AO after giving appeal effect to our order as per the provisions of the law and Ground No. 6 relates to the non-granting of the credit for dividend distribution tax (DDT). The AO is directed to verify the claim of the DDT from the challan to be furnished by the assessee a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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