DCM SHRIRAM CONSOLIDATED LTD Vs. INCOME TAX OFFICER

JUDGEMENT

(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:

(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.

(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.