TaxTMI 
TaxTMI 
2025 (9) TMI 896
X X X X Extracts X X X X
X X X X Extracts X X X X
....in shot, 'the Act) for the Assessment Year 2022-23, date of order 01/04/2025. The impugned order emanated from the order of the CPC, Bengaluru, (hereafter, 'Ld.AO') passed under section 143(1) of the Act, date of order 11/12/2024. 2. The assessee has taken the following grounds of appeal: - "1. The Id. JCIT(A) erred in confirming the order of the Assessing Officer in considering 31st January 2024 as the date of filing of the updated returns instead of 30th April 2023. 2. The id JCIT(A) erred in confirming the action of the Assessing Officer in not considering the payment of tax of Rs. 1,79,14,730/- paid from 27th to 30th April 2023 an self-assessment tax already paid for the purpose of levying interest sender section 23....
X X X X Extracts X X X X
X X X X Extracts X X X X
....30/04/2023 amount to Rs. 1,79,14,730/-, the assessee treated it as self-assessment tax under section 140A whereas the Ld.AO treated it as tax payment u/s 140B(4) of the Act. Accordingly, the interest u/s 234B of the Act shall be computed based on the assessed tax, i.e. tax on total income as declared in return furnished u/s 139(8A) of the Act after taking into account the advance-tax paid, TDS, TCS, any relief u/s 89 / 90 / 91 / 90A and any tax credit claimed to be set off u/s 115JAA and 115 JD. The aggrieved assessee filed an appeal before the Ld.CIT(A) by challenging that the Ld.AO treated the tax payment of Rs. 1,79,14,730/- during the period from 27/04/2023 to 30/04/2023, payment as per provisions u/s 140B(4) of the Act and further the ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....00 55,18,776 1,479 50,00,000 1,65,20,255 60,00,000 62,87,167 1,479 2,29,14,730 3,52,03,376 6 Amount payable 2,19,55,258 12,98,660 7 Additional income-tax liability on updated income (25%) 54,87,564 3,23,415 8 Amount payable 2,74,42,822 16,22,075 9 Taxes paid u/s 140B 1,79,14,730 16,22,075 10 Tax due 79,06,020 0 In the present case, the assessee has treated the tax payment and interest of Rs. 1,79,14,730/- as self-assessment tax under Section 140A of the Act, and accordingly claimed that the additional income-tax liability at the rate of 25% on the updated return stands reduced. As per the assessee, the additional income-tax liability in the rectified r....
X X X X Extracts X X X X
X X X X Extracts X X X X
....le/paid worked out on the basis of the updated return being filed on 30/04/2023 as per provisions of section 140B(1) of the Act. 5.4.8 Therefore, the appellant as per provisions of section 140B of the Act was required to work out the "Amount Payable at Sr.No.11 in "Part B -TTI Computation of tax liability on total income" at Rs. 1,79,14,730/- after taking into account payment of advance tax of Rs. 60,00,000/-, TDS of Rs. 62,87,167/-, TCS of Rs. 1.479/- and self-assessment tax (u/s 140A) of Rs. 50,00,000/- However, the appellant has taken the taxes paid of Rs. 1,79,14,730/- as per provisions of section 140B(1) of the Act before the date of filing of the defective update return on 30/04/2023 and included the same as self-assessment t....
X X X X Extracts X X X X
X X X X Extracts X X X X
....gher total interest and fees payable in ROI filed on 31/01/2024 was computed only in order to arrive at the figure of "Amount Payable in column 11 at Rs. 12,98,660/- after claiming taxes paid of Rs. 3,52,03,376/-. This figure of "Amount payable arrived at Rs. 12,98,660/-was then taken for computation of the additional tax @ 25% of only Rs. 3,23,415/- in Column 10- "Additional income-tax liability on updated income" in "Part BATI Computation of total updated income and tax payable of updated ROI filed on 30/01/2024. 5.4.11 From the facts as detailed above with regard to the filing of updated return of income on 30/01/2024 it can be clearly seen that the facts of the appellant case are entirely different for the facts of the case of ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....appellant has done so then the return of income filed on 31/01/2024 could have been considered as return filed in response to notice u/s 139(9) of the Act though the correct box was not appropriately ticked. However, the appellant in ROI filed on 31/01/2024 has shown "Amount Payable at only Rs. 12,98,660/- and computed the additional tax @ 25% of only Rs. 3,23,415/-The guilt of the appellant was therefore established by contents in the updated ROI filed on 31/01/2024. Considering the detail discussion made above, the update ROI filed by appellant on 31/01/2024 cannot be considered as to have cured the defect in the ROI filed on 30/04/2023." The Ld. AR contended that interest under Section 234B was levied up to the date of processing of t....