2024 (5) TMI 958

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....der u/s. 154 rejecting rectification application passed by assessing officer and confirmed by first appellate authority is bad in law and deserves to be uncalled for and rectification application filed by the appellant be allowed with consequential relief. 2. The demand of dividend distribution tax in respect of A.Y. 2014-15 is unjustified and uncalled for and credit of the same deserves to be given in respect of Α.Υ. 2015-16. 3. Without prejudice to the above, credit for the dividend distribution tax paid for A.Y. 2015-16 be allowed in respect of A.Y. 2014-15. 4. The appellant craves leave to add to or amend the grounds of appeal before disposal of the appeal. 3. The brief facts of the case are that the assessee had de....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....t mistake the assessee had wrongly accounted for it in the return for A.Y. 2014-15. When the mistake was noticed a revised Form 3CD for A.Y. 2014-15 and for A.Y. 2015-16 was also filed with the Department, but the Ld. CIT(A) rejected it on the ground that it was not filed within time. The Ld. AR requested that a direction may be given for accounting of the DDT paid on 27/08/2014 in the correct Assessment Year. 5. The Ld. D.R. on the other hand submitted that as per Minutes of Minutes of Annual General Meeting of the assessee company dated 25t h August 2014, the final dividend of Rs. 400/- per equity share was declared for the financial year ended on 31/03/2014. Thus the dividend was pertaining to A.Y. 2014-15 only, on which the DDT was pai....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... been accounted for in return for the financial year 2014-15 relevant to the A.Y. 2015-16. 7. The assessee had filed a revised Form 3CD for A.Y. 2014- 15 and 2015-16 on 21/05/2019 rectifying the mistake in accounting of DDT. The Ld. CIT(A) has rejected the revised Form 3CD on the ground that the revised Form 3CD were required to be filed before the end of the relevant assessment year only. The assessee is not making any fresh claim by way of the revised Form 3CD but it was only rectifying the mistake in accounting of DDT. The finding of the Ld. CIT(A) is that declaration of dividend and tax thereon pertained to A.Y. 2014-15. Even though, the dividend was declared for the year ended on 31/03/2014, the declaration took place in the financial....