2017 (3) TMI 1031

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....rvived for our disposal reads as under:- 1. The ld. CIT(A)-33 erred in not reducing interest charged under section 234B and 234C of Rs. 9,58,591/- as against interest chargeable of Rs. 1,66,906/- in the facts and circumstances of the case. 4. The assessee is engaged in the business of freight forwarding. There had been a survey at the premises of the assessee on 5.3.2008. During the course of survey, few discrepancies were noticed and the assessee to avoid litigation disclosed/offered a sum of Rs. 90 lakhs detailed as under:- (a) Non-deduction of TDS on certain expenses Rs.67 lakhs (b) For cash payment Rs.23 lakhs   Total Rs.90 lakhs   5. The Assessing Officer completed the assessment determi....

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....lted in payment of instalment of advance tax, as the amount of Rs. 10 lakhs was offered by way of income for the first time as per the assessee's letter dated February 28, 2000, to buy peace and avoid further adverse consequences and the assessing authority having acted upon this proposition of the assessee and having regard to the peculiar facts and circumstances of this case, the addition of income under sections 234A and 234B in the case of the assessee was not necessary and not justified." 7. We have perused the facts of this case. We noted that in this case the Assessing Officer, when the case was taken for scrutiny, noted there were discrepancies in the capital account and investment made as claimed by the assessee. The assesse....

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.... part of a month comprised in the period from the 1st day of April next following such financial year [to the date of determination of total income under sub- section (1) of section 143 [and where a regular assessment is made, to the date of such regular assessment, on an amount]] equal to the assessed tax or, as the case may be, on the amount by which the advance tax paid as aforesaid falls short of the assessed tax." 8. From the said provision, it is apparent that this section is applicable only if an assessee is liable to pay advance tax under section 208 of the Act and has failed to pay the same or where the advance tax paid by such assessee under the provisions of section 210 is less than ninety per cent of the assessed tax. Section....