2017 (10) TMI 1685

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....ts and in the circumstances of the case and in law the authorities below erred in holding the rectification application of the Appellant as not falling under the purview of Section 154 of the I.T Act, 1961. The grounds of appeal in all the four appeals are common. For the sake of convenience, we are taking the facts of the case for Assessment Year 2007-08. 3. The assessee is a company engaged in the manufacturing of wind electric generators (WEGs) in India for harnessing power form wind at different locations in India. The assessee filed its return of income for Assessment Year 2007-08 on 29/10/2007 at an income of Rs. 77,38,98,824/-. The case was processed u/s 143(1) of the Income Tax Act, 1961 on 14/3/2009. The case was selected for....

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....under this Chapter shall be made in the prescribed form and verified in the prescribed manner hereunder, namely:- (a) Where the claim is in respect of income which is assessable for any assessment year commencing on or before the 1st day of April, 1967, four years from the last day of such Assessment Year. b) Where the claim is in respect of income which is assessable for the Assessment Year commencing on the first day of April, 1968, three years from the last of the Assessment Year. c) Where the claim is in respect of income which is assessable for any other Assessment Year (one) year from the last day of such Assessment Year. In view of above, rectification application dated 18/10/2013 is disposed off a....

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....mpany moved a second application for rectification u/s 154 of the Act on 09.03.2010 which was not decided by the Assessing Officer. Therefore once again the rectification application was filed on 11.03.2013 followed by reminder application dated 18.10.2013. Thus, on reminder the Assessing Officer rejected the assessee's claim of giving effect of TDS Certificates received by the Assessee. The contentions of the Ld. AR that as to the requirement of Section 239 as spelt out by the Assessing Officer, the same would arise, if need be, only after the determination of the refund. Such situation would not arise even before the statement of taxes paid is corrected and credit is given for the amounts as paid, seems to be according to the provisions o....