Shri Anup Kumar Mitra, Kolkata V. ITO, WD-44(1), KOLKATA, Kolkata

ITA 1089/KOL/2016

• Counselvise Citation: [2020] 111 COUNSELVISE.COM (IT) 4476 (ITAT-KOLKATA)
• Duration Of Justice: 3 year(s) 9 month(s) 7 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 26-02-2020
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC
• Assessment Year: misc
• Appeal Filed On: 19-05-2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: S M SURANA
• Section: 250; 207

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA B BENCH, KOLKATA (BEFORE SRI J. SUDHAKAR REDDY, ACCOUNTANT MEMBER & SRI S.S. GODARA, JUDICIAL MEMBER) ITA NO. 1089/KOL/2016 ASSESSMENT YEAR: 1987-88 SHRI ANUP KUMAR MITRA..............................................................................APPELLANT L/H. OF LT. ANIL BHUSAN MITRA 6, BEPIN MITRA LANE KOLKATA 700 004 [PAN : AEAPM 6798 P] VS. INCOME TAX OFFICER, WARD-44(1), KOLKATA............................................RESPONDENT APPEARANCES BY: SHRI S.M. SURANA, ADVOCATE, APPEARED ON BEHALF OF THE ASSESSEE. SHRI DHRUBAJYOTI RAY, JCIT SR. D/R, APPEARING ON BEHALF OF THE REVENUE. DATE OF CONCLUDING THE HEARING : DECEMBER 12 TH , 2019 DATE OF PRONOUNCING THE ORDER : FEBRUARY 26 TH , 2020 ORDER PER J. SUDHAKAR REDDY, AM :- THIS APPEAL FILED BY THE ASSESSEE IS DIRECTED AGAINST THE ORDER OF THE LEARNED COMMISSIONER OF INCOME TAX (APPEALS) 13, KOLKATA, (HEREINAFTER THE LD.CIT(A)), PASSED U/S. 250 OF THE INCOME TAX ACT, 1961 (THE ACT), DT. 18/01/2016, FOR THE ASSESSMENT YEAR 1987-88. 2. THE ONLY ISSUE THAT ARISES FOR OUR CONSIDERATION IS, WHETHER THE INTEREST ON REFUND U/S 214 OF THE ACT, AS IT EXISTED FOR THE ASSESSMENT YEAR 1987-88, ENTITLES THE ASSESSEE FOR GRANT OF INTEREST ON REFUND DUE, FROM THE FIRST DATE OF THE FINANCIAL YEAR. SECTION 214 OF THE ACT, AS IT THEN EXISTED, READS AS FOLLOWS:- SECTION 214- INTEREST PAYABLE BY GOVERNMENT (1) THE CENTRAL GOVERNMENT SHALL PAY SIMPLE INTEREST AT FIFTEEN PER CENT PER ANNUM ON THE AMOUNT BY WHICH THE AGGREGATE SUM OF ANY INSTALMENTS OF ADVANCE TAX PAID DURING ANY FINANCIAL YEAR IN WHICH THEY ARE PAYABLE UNDER SECTIONS 207 TO 213 EXCEEDS THE AMOUNT OF THE ASSESSED TAX FROM THE 1 ST DAY OF APRIL NEST FOLLOWING THE SAID FINANCIAL YEAR, AND WHERE ANY SUCH INSTALMENT IS PAID AFTER THE EXPIRY OF THE FINANCIAL YEAR , DURING WHICH IT IS PAYABLE BY REASON OF THE PROVISIONS OF SECTION 213, INTEREST AS AFORESAID SHALL ALSO BE PAYABLE ON THAT INSTALMENT FROM THE DATE OF ITS PAYMENT TO THE DATE OF REGULAR ASSESSMENT : PROVIDED THAT IN RESPECT OF ANY AMOUNT REFUNDED ON A PROVISIONAL ASSESSMENT UNDER SECTION 141A, NO INTEREST SHALL BE PAID FOR ANY PERIOD AFTER THE DATE OF SUCH PROVISIONAL ASSESSMENT. 3. A PLAIN READING OF THE SECTION TAKES US TO THE CONCLUSION THAT THE INTEREST HAS TO BE CALCULATED FROM THE 1 ST DAY OF APRIL OF THE FINANCIAL YEAR. NOT DOING SO, IS A MISTAKE APPARENT ON RECORD. THUS, WE ALLOW THE APPEAL OF THE ASSESSEE AND DIRECT THE ASSESSING OFFICER TO COMPUTE INTEREST U/S 214 OF THE ACT ON THE INSTALMENTS PAID AS ADVANCE TAX BY THE ASSESSEE THE AMOUNT OF ASSESSED TAX. 4. IN THE RESULT, APPEAL OF THE ASSESSEE IS ALLOWED. KOLKATA, THE SD/- [S.S. GODARA] JUDICIAL MEMBER DATED : 26.02.2020 {SC SPS} COPY OF THE ORDER FORWARDED TO: 1. SHRI ANUP KUMAR MITRA L/H. OF LT. ANIL BHUSAN MITRA 6, BEPIN MITRA LANE KOLKATA 700 004 2. INCOME TAX OFFICER, WARD- 44(1), KOLKATA 3. CIT(A)- 4. CIT- , 5. CIT(DR), KOLKATA BENCHES, KOLKATA. 2 OFFICER TO COMPUTE INTEREST U/S 214 OF THE ACT ON THE AMOUNT OF AGGREGATE SUM OF INSTALMENTS PAID AS ADVANCE TAX BY THE ASSESSEE DURING THE FINANCIAL YEAR, IN THE RESULT, APPEAL OF THE ASSESSEE IS ALLOWED. KOLKATA, THE 26 TH DAY OF FEBRUARY, 2020. [ J. SUDHAKAR REDDY ACCOUNTANT MEMBER 44(1), KOLKATA 5. CIT(DR), KOLKATA BENCHES, KOLKATA. ASSISTANT REGISTRAR ITAT, KOLKATA BENCHES ITA NO. 1089/KOL/2016 ASSESSMENT YEAR: 1987-88 SHRI ANUP KUMAR MITRA AMOUNT OF AGGREGATE SUM OF DURING THE FINANCIAL YEAR, WHICH EXCEEDS SD/- SUDHAKAR REDDY ] ACCOUNTANT MEMBER TRUE COPY BY ORDER ASSISTANT REGISTRAR ITAT, KOLKATA BENCHES