TaxTMI 
TaxTMI 
TaxTMI 
2016 (2) TMI 1286
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.... appeal filed with the Tribunal read as under:- "1 The learned Commissioner of Income-tax(Appeals) has erred in law and in facts in passing the order u/s. 250 of the Act. 2. The learned Commissioner of Income-tax(Appeals) has erred in law and in facts in passing the order in gross violation of principles of natural justice. 3.The learned Commissioner of Income-tax(Appeals) has erred in law and in facts in not appreciating that no income from attached assets can be assessed in the hands of the appellant. 4. The learned Commissioner of Income-Tax(Appeals) has erred in law and in facts in not granting relief of liability amounting to Rs. 1,57,85,366/-, towards interest expenditure claimed by the appellant. 5. The learned Commissi....
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....n within one day from receipt of order. 3. I say that the appeal fees so released by the Custodian was received on 24.05.2013 . Your Honours would observed that the appellant has taken all the initiatives to address letters and reminders to the Custodian for the release of the appeal fee for filing the appeal; and that upon receipt of counterfoil of the paid challan , the appeal was submitted before Your Honours . Thus, so far as the applicant was concerned , we were very much diligent and anxious about our obligation . The delay was caused for reasons which were beyond the control of the applicant. As a result of the above, the appeal was filed on 31.05.2013 i.e. late by 47 days. 4. I state that Appellant was prevented by a reasonabl....
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....ok filed by the assessee company with the Tribunal. 7. The Ld. Special counsel of the Revenue admitted that the issue involved in the aforestated orders of the Tribunal is identical and the Tribunal for the said assessment years has set aside the issue for fresh adjudication to the file of the CIT(A). 8. Having regard to the circumstances of the case and after hearing both the parties, we set aside the issue to the file of the CIT(A) , who is directed to adjudicate the matter afresh in accordance with law and in the lines indicated in the aforementioned orders of the Tribunal. Needless to say that the assessee company shall be granted a reasonable opportunity of being heard by the CIT(A). We order accordingly. 9. Ground No. 5 relates to ....
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....ng officer who would levy the interest as per provisions of Section 234 after reducing the amount of tax deductible at source and decide as per the provision of law. The Tribunal decision in ITA no. 846,1032,2147/ Mum/ 2010 dated 23-09-2015 is reproduced below : "6. Last ground of appeal for all the three assessment years pertain to levy of interest u/s 234A, 234B and 234C of the Act. Before us, the representatives of both the sides agreed that identical issue was decided in the cases of Topaz Holdings Pvt. Limited ( ITA/2146/Mum/2013, A.Y. 2001-02 dtd.18.06.2014) and Eminent Holdings Pvt. Ltd. (ITA/2139/Mum/2013, A.Y.2002-03, dated 18.06.2014), that the Tribunal had upheld the levy of interest in principal, that it had set aside the issu....
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.... ITR 320) , NGC Network Asia LLC (313 ITR 187), Summit Bhatacharya (300 ITR (AT) 347(Bom.)(SB)), Vijay Gopal Jindal (ITA No. 4333/Del/2009) & Emillo Ruiz Berdejo (320 ITR 190(Bom.) . DR relied upon the cases of Divine Holdings Pvt. Ltd. . 3.1 We have heard the rival submissions and perused the material before us. We find that in the case of Divine Holdings Pvt. Ltd.. Hon'ble Bombay High Court has held that provisions of Section 234A, 234B and 234C were applicable to the notified person also. Therefore, upholding the order of the FAA to that extent, we hold that provisions of Section 234 of the Act are applicable . As far as calculation part is concerned , we find merits in the submission made by the assessee. Therefore, we are restoring ....