9911796707
TMI Blog2025 (2) TMI 49X X X X Extracts X X X X X X X X Extracts X X X X ..... AT) [2021 (8) TMI 1434 - ITAT CHENNAI] is decided against the petitioner.
In this case, if the Department's appeal before the Tribunal is accepted, the petitioner will not only be liable to pay the amount of differential tax but also the interest paid to the petitioner under Section 244-A. Hence, there is no merit in the submission of the petitioner. WP dismissed. X X X X Extracts X X X X X X X X Extracts X X X X ..... on the decision of the Division Bench of the Bombay High Court in Mantelone Investment Limited Vs. Commissioner of Income Tax (International Taxation) & Ors. reported in (2022) 440 ITR 111. Specifically, the learned counsel would draw the attention of this Court to Paragraph No.11 of the said decision, wherein, it has been observed as under:- 11. Shri Vyas's reliance on Explanation to Section 7 of the Direct Tax Vivad se Vishwas Act, is misplaced inasmuch as the restriction on payment on interest under Section 244A of the Act is only when an assessee is eligible for a refund pursuant to making an application under the Direct Tax Vivad se Vishwas Act, i.e., when the tax paid by the assessee exceeds the amount payable under Section 3. In such a case, the assessee would be entitled to refund but without interest. In the case at hand, interest of Rs. 42,72,210/- paid under Section 244A of the Act was not determined as payable under the Direct Tax Vivad se Vishwas Act, but was paid as per the assessment order passed for the assessment year which was more than 2 ½ years before the declaration under the Direct Tax Vivad se Vishwas Act, was filed by the petitioner. Therefore, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ayable is given as Rs. 65,59,593/- (Rupees Sixty Five Lakhs Fifty Nine Thousand Five Hundred and Ninety Three only). 13. Defending the stand of the Revenue Department, the learned counsel for the respondent drew the attention of this Court to Paragraph No.19 of the counter affidavit and submitted that a sum of Rs. 65,59,593/- was payable by the petitioner under the Direct Tax Vivad Se Vishwas Act, 2020. 14. In this connection, a reference is made to the following table :- 15. It is further submitted that the order of the Commissioner (Appeals), dated 15.11.2018 in ITA.No.15/2017-18 was followed by giving effect to order dated 07.01.2019 bearing reference to PAN:AAACU9457G/Corp.Cir.3(2)/2018-19, wherein, a sum of Rs. 55,47,040/- was refunded back to the petitioner as detailed below:- Assessed income as per order u/s 143 (3) r.w.s 254 dated 30.03.2017 Rs.3,04,13,119/- LESS: Relief given by CIT(A)-11 order as above i) Unexplained Cash Deposits u/s 68 of Rs. 3,00,00,000/- Rs.3,00,00,000/- After giving effect to the above order, the Revised income as per this order Rs.4,13,119/- Gross Tax Rs.1,23,936/- Add: Surcharge Nil Add: Edu. Cess Rs.3,718/- Net Tax Rs.1,27,654/- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... disputed tax. the aggregate of the amount of disputed tax and ten per cent. of disputed tax: provided that where the ten per cent. of disputed tax exceeds the aggregate amount of interest chargeable or charged on such disputed tax and penalty leviable or levied on such disputed tax, the excess shall be ignored for the purpose of computation of amount payable under this Act. (b) where the tax arrear includes the tax, interest or penalty determined in any assessment on the basis of search under section 132 or section 132 of the Income-tax Act. the aggregate of the amount of disputed tax and twenty-five per cent. of the disputed tax: provided that where the twenty-five per cent. of disputed tax exceeds the aggregate amount of interest chargeable or charged on such disputed tax and penalty leviable or levied on such disputed tax, the excess shall be ignored for the purpose of computation of amount payable under this Act. the aggregate of the amount of disputed tax and thirty-five per cent. of disputed tax: provided that where the thirty-five per cent. of disputed tax exceeds the aggregate amount of interest chargeable or charged on such disputed tax and penalty leviable or lev ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , provided that where the 10% of disputed tax exceeds the aggregate amount of interest chargeable or charged on such disputed tax and penalty leviable or levied on such disputed tax, the excess shall be ignored for the purpose of computation of amount payable under the said Act . 23. As extracted above, the definition of the expression "Disputed Tax" in Section 2(1)(j) of the said Act will be the amount of tax that is payable by an assessee, if an appeal or writ petition or a special leave petition is pending was to be decided against the assessee. Therefore, the interest paid to the petitioner under Section 244-A of the Income Tax Act, 1961 will be recoverable, if the appeal filed by the Income Tax Department before the Tribunal (ITAT) in ITA.No.161/Chny/2019 is decided against the petitioner. 24. In this case, if the Department's appeal before the Tribunal (ITAT) in ITA.No.161/Chny/2019 is accepted, the petitioner will not only be liable to pay the amount of differential tax but also the interest paid to the petitioner under Section 244-A of the Income Tax Act, 1961. Hence, there is no merit in the submission of the petitioner. 25. Therefore, this writ petition is liable t ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
