DCM SHRIRAM CONSOLIDATED LTD Vs. INCOME TAX OFFICER
LAWS(IT)-2014-6-43
INCOME TAX APPELLATE TRIBUNAL
Decided on June 13,2014

DCM SHRIRAM CONSOLIDATED LTD Appellant
VERSUS
INCOME TAX OFFICER Respondents

JUDGEMENT

A.K.Garodia, Member (A) - (1.) THIS is an assessee's appeal directed against the order passed by learned CIT(A), Bareilly dt. 27th Dec., 2012 for asst. yr. 2007 -08 in respect of Form No. 26Q, third quarter. The grounds raised by the assessee are as under: "1. That the CIT(A) erred in upholding chargeability of interest under s. 201(1A) of the I.T. Act of Rs. 2,80,210 without considering and appreciating the contentions of the company, facts and circumstances of the case and also the case laws referred by the company and had wrongly concluded that interest is chargeable from the appellant by wrongly referring to the case law which was not applicable.
(2.) THAT CIT(A) failed to appreciate that as per provisions of s. 200 r/w s. 201(1A) of the I.T. Act that interest is chargeable only if the appellant company would have failed to deposit the tax within prescribed time whereas in the facts of the case, the appellant had deposited the tax within the prescribed time to the credit of the Central Government and accordingly, no interest is chargeable from the appellant company. That CIT(A) also failed to appreciate that the mistake of not giving credit to CBDT was on the part of the State Bank of India, which bank was the collecting agent of the Govt. and for the mistake of the bank, the appellant company could not be held responsible and no interest could be charged from the appellant.
(3.) THAT CIT(A) has also wrongly observed that order passed by the AO under s. 154 of the Act dt. 8th Aug., 2011 was a separate appealable order. He failed to appreciate that the issue of chargeability of interest was already taken by the appellant in the appeal filed against order under s. 154 of the Act dt. 9th June, 2011 and there was no fresh issue which was in the order dt. 8th Aug., 2011 and the aforesaid, order was only referred to before the CIT(A) for the purpose of completion of the facts.;


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