TaxTMI 
TaxTMI 
2024 (3) TMI 309
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....e appeals, they were heard together and are disposed of by this common order for the sake of convenience and brevity. 3. Since the underlying facts are identical, we heard the representatives on the facts of A.Y 2007-08 with an understanding that since the facts are pari materia the same, the appeal for A.Y 2009-10 can be disposed off accordingly. 4. The grievances of the Revenue read as under: "1. Whether the CIT (A) was correct in holding that charging AO is incorrect as order u/s 154 is barred by limitation when it computation of tax and levy of interest u/s 234B/234C is connected with the computation of tax. 2. Whether the CIT (A) was correct in ignoring the decision case of Rolta India Ltd. Wherein it was held that computation of....
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....appeal." 5. Ground No. 1 above speaks for itself and the entire controversy. 6. Having heard the rival submissions, we have carefully perused the orders of the authorities below. The undisputed facts is that the assessee filed its return of income on 30.10.2007 declaring an income of Rs. 1,32,88,33,425/- u/s 115JB of Income-tax Act, 1961 [the Act, for short]. Return was revised on 09.03.2009 at an income of Rs. 1,27,96,45,721/- u/s 115JB of the Act. 7. On the date of filing of the return and revised return of income, law laid down by the Hon'ble Supreme Court in the case of Kwality Biscuits Limited 284 ITR 519 was prevailing wherein it was held by the Hon'ble Supreme Court that for income returned u/s 115J of the Act, no interest....
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.... jurisdiction for introducing a new issue while giving appeal effect to the order of the appellate authority. 12. The Assessing Officer processed the revised return on 31.03.2010 u/s 143(1) of the Act wherein he charged interest u/s 234B and 234C of the Act. This intimation was challenged before the ld. CIT(A) who set aside the order holding that after section 143(3) of the Act, section 143(1) cannot be done and the Revenue was not in appeal. Therefore, this order has attained finality. 13. Subsequently, after search assessment u/s 153A of the Act was completed vide order dated 31.03.2015 which was rectified u/s 154 on 16.01.2017 and income was assessed u/s 115JB of the Act at Rs. 1,7,96,45,720/-. In this rectification also, no interest w....