2023 (11) TMI 84

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....t Orders all dated 27.03.2023 passed under Section 201 of the Income Tax Act, 1961 (hereinafter referred to as the IT Act). 2. The impugned Assessment Orders precede a Show Cause Notices all dated 14.11.2022 issued to the petitioner for the Assessment Years 2016-2017 to 2020-2021 for the Financial Years 2015-2016 to 2019-2020. 3. The specific case of the petitioner is that the survey conducted on 24.08.2022 was followed by a summons dated 25.08.2022, in response to which, the petitioner has furnished all the details relating to proof of Form No.15G and Form No.15H by the depositors to whom interest was paid. 4. The further case of the petitioner is that none of the regular depositors have received interest over and above Rs. 2,50,0....

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....in the proceedings pursuant to the Show Cause Notices dated 14.11.2022 issued to the petitioner for the respective Assessment Years. 10. The learned Senior Standing Counsel for the respondent would submit that despite several opportunity granted to the petitioner to furnish the details, the petitioner has not furnished the break up of the interest paid to the citizens who have given Form No.15G and 15H as is required under Section 197A(1A) and 197A(1C) of the IT Act. 11. The learned Senior Standing Counsel for the respondent would further submit that any interference would set a wrong precedent for defaulting the assessee, who fail to cooperate with the assessment proceedings to challenge the Assessment Orders without filing of Form-C....

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.... (1) or subsection (1A), as the case may be, or the aggregate of the amounts of such incomes credited or paid or likely to be credited or paid during the previous year in which such income is to be included exceeds the maximum amount which is not chargeable to income-tax. Notwithstanding anything contained in Section 193 of Section 194 or Section 194A of Section 194EE or Section 194K or sub-section (1B) of this section, no deduction of tax shall be made in the case of an individual resident in India, who is the age of sixty-five years or more at any time during the previous year, if such individual furnishes to the person responsible for paying any income of the nature referred to in Section 193 or Section 194 of Section 194A or Section ....

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....mitting to your good office, we request you to allow us to submit the details on or before 6th December and oblige. The inconvenience caused is regretted." 18. A similar reply was sent on 05.09.2022 stating that the petitioner has been appointed as a nodal body to implement the Social Welfare Scheme of the State Government. 19. It is in this background, the impugned Assessment Orders had been passed by the respondent on 27.03.2023. A reading of the representations/replies dated 24.11.2022 and 05.12.2022 indicates that the petitioner has not fully collated the information that was required to be furnished prior to the Show Cause Notices dated 14.11.2022, although the petitioner has furnished few details earlier by e-mail dated....