TaxTMI 
TaxTMI 
2021 (8) TMI 1181
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....hey were heard together and are being disposed of by this consolidated order. 2. The issue raised in these appeals are as under:- ITA No. Asst.Year Disallowance Amount disallowed 31/Bang/2019 2013-2014 u/s 80IA 3,11,710 32/Bang/2019 2014-2015 Interest u/s 244A Interest on delayed payments 1,53,504 24,644 33/Bang/2019 2015-2016 u/s 80IA 37,82,522 We shall consider the above issues as under: Disallowance u/s 80IA (Asst.Years 2013-2014 & 2015-2016) 3. The Assessing Officer had disallowed the claim u/s 80IA of the I.T.Act to the extent of Rs. 3,11,713 and Rs. 37,82,522 for assessment years 2013-2014 and 2015-2016, respectively. The reasoning of the Assessing Officer to make the disa....
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....he same which has not been done. Having considered the facts, I am of the view that the disallowance made by the AO for both the years are reasonable and should be upheld. The grounds of appeal, therefore, cannot be allowed." 3.2 Aggrieved by the order of the CIT(A), the assessee is in appeal before the Tribunal. The learned AR submitted that the CIT(A) has erred in not allowing full deduction u/s 80IA of the I.T.Act. It is submitted that the authority below ought to have appreciated that separate books of account were maintained for each of the windmills and the assessee has filed profit and loss account of each windmill along with Form No.10CCB. Therefore, it was stated that no common administrative expenses on proportionate basis is t....
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....th his final decision in Assessment Year 2008-09. In view of this, no further adjudication is called for at the present stage." 3.5 Since the facts are identical for these assessment years and the assessment year 2012-2013, we direct the CIT(A) to consider the issue afresh. It is ordered accordingly. 3.6 In the result, the ground relating to the claim of deduction u/s 80IA of the I.T.Act for A.Y.'s 2013-2014 and 2015-2016 are allowed for statistical purposes. Interest u/s 244A (Asst.Year 2014-2015) 4. The Assessing Officer had added to the total income interest received on refund u/s 244A of the I.T.Act. The relevant observation of the A.O. reads as follow:- "8. The Income Tax Department had issued interest u/ s 244A on....
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.... total receipts of the assessee for the year, the addition is also made to the book profits of the assessee u/s 115JB of the Act." 4.1 On further appeal, the CIT(A) confirmed the addition made to the income amounting to Rs. 1,53,504. 4.2 Aggrieved by the order of the CIT(A), the assessee has raised this issue before the Tribunal. The learned AR submitted that the assessee has not received any requisite order from the Assessing Officer in relation to the interest amount of Rs. 1,53,504 u/s 244A of the I.T.Act. It was submitted that in absence of such incidents of refund, the assessee has not been able to recognize the interest income of Rs. 1,53,504 in the relevant assessment year. 4.3 The learned Departmental Representative submitt....
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....elay in making the payment of the tax deducted at source has no connection with the business carried on by the assessee but is only referable to the default on the part of the assessee in making the payment. Therefore, the payment of interest cannot be treated as interest on money borrowed for the purpose of the business. On the other hand, the revenue, which is due to the Government, was unlawfully withheld and it is for this reason that the interest under section 201(lA) was charged on the belated payment. Reliance is placed on the decision of Hon'ble Delhi ITAT in Iyer and Sons (P.) Ltd. V. Income-Tax Officer (1982) 1 ITD 502. The Hon'ble Supreme Court in the case of Bharat Commerce & Industry v CIT (1998) 230 ITR 733 held that i....