2023 (7) TMI 85

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.... Respondent: Mr Gaurav Gupta, Sr. Standing Counsel with Mr Puneett Singhal and Mr Shivendra Singh, Jr Standing Counsels. ORDER RAJIV SHAKDHER, J. (ORAL): CM APPL. 27926/2023 1. Allowed, subject to just exceptions. W.P.(C) 7165/2023 2. Issue notice. 2.1 Mr Gaurav Gupta, learned senior standing counsel, accepts notice on behalf of the respondents/revenue. 3. Given the direct....

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.... the relevant point in time, was that the compensation and interest received from the NHAI was not amenable to imposition of income tax, NHAI deducted tax at source, both vis-à-vis the principal amount as well as the interest. 7. Insofar as the interest is concerned, tax at source was deposited by the NHAI for the relevant period i.e. AY 2020-21. However, as regards the principal amount,....

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....and interest, was exempt from imposition of tax. 12. The said return was, concededly, processed under Section 143(1) of the Act. The record indicates that the intimation under Section 143(1) of the Act served on the petitioner is dated 08.05.2021. 12.1 Via this intimation, demand amounting to Rs.2,95,490/- has been raised against the petitioner, albeit, without giving credit for the tax dedu....

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....20-21 was scaled down to Rs.16,440/-. 14.1 The third prayer made in the said application, which has been extracted above, is made in that context. 14.2 Although the rectification application seeks credit for tax deducted at source vis-à-vis interest, it appears the petitioner has already received the same (as has been noted in paragraph 6 of the application dated 18.08.2022) 15. Ac....