M/S MANAN VIDYA , RANCHI V. ITO WARD-3(2), RANCHI

ITA 247/RAN/2017

• Counselvise Citation: [2019] 118 COUNSELVISE.COM (IT) 7769 (ITAT-RANCHI)
• Duration Of Justice: 1 year(s) 3 month(s) 13 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 09-01-2019
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC
• Assessment Year: 2007-2008
• Appeal Filed On: 26-09-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: P K MONDAL
• Assessee Lawyers: R K KAUSHAL
• Section: 234B; 147

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL RANCHI BENCH SMC, RANCHI BEFORE SH. S.S.GODARA, JUDICIAL MEMBER ITA NO.247/RAN/2017 [ASSESSMENT YEAR: 2007 - 08] MANAN V I DYA, DUMARDAGA, BESIDE JUMAR BRIDGE, BOOTY, RANCHI - 835217. PAN - AA AFM0806N VS DCIT , CIRCLE - 1, RANCHI. (APPELLANT) (RESPONDENT) APPELLANT BY SH. R.K.KAUSHAL, CA RESPONDENT BY SH. P.K.MONDAL, JCIT DATE OF HEARING 07.01.2019 DATE OF PRONOUNCEMENT 09 .01.2019 ORDER PER SH. S.S.GODARA, JUDICIAL MEMBER THIS ASSESSEES APPEAL FOR AY 2007 - 08 ARISES AGAINST THE ORDER DATED 03.10.2016 PASSED BY THE CIT(A), RANCHI IN APPEAL NO.120/ RAN/OTH/15 - 16 IN PROCEEDINGS U/S 147 OF THE INCOME TAX ACT, 1961 (IN SHORT ACT). HEARD BOTH THE PARTIES. CASE FILE PERUSED. 2. THE ASSESSEES SOLE ISSUE CANVASSED IN THIS INSTANT APPEAL RELATES TO SE CTION 234B INTEREST COMPUTATION . HONBLE JURISDICTIONAL H IGH C OURT IN AJAY PRAKASH VERMA, T.A.NO.38 OF 2010 REPORTED IN 2013(1) TMI 140 HAS CATEGORICALLY HELD THAT THE IMPUGNED INTEREST HAS TO BE COMPUTE D ONLY ON RETURNED INCOME THAN THAT ASSESSED BY THE A SSESSING O FFICER . I, THEREFORE, DIRECT THE AO TO COMPUTE THE IMPUGNED INTEREST STRICTLY IN TUNE WITH H ONBLE JURISDICTIONAL H IGH C OURT ABOVE STATED DECISION. 3. THIS ASSESSEES APPEAL IS ALLOWED IN ABOVE TERMS . ORDER PRONOUNCED IN THE OPEN COURT ON 09 .01.2019. SD/ - (S.S.GODARA) JUDICIAL MEMBER DATE: - 09 .01.2019 *AMIT KUMAR* ITA NO. 247 /RAN/201 7 [ASSESSMENT YEAR: 20 07 - 08 ] PAGE | 2 COPY FORWARDED TO: 1 . APPELLANT - MANAN VI DYA, DUMARDAGA, BESIDE JUMAR BRIDGE, BOOTY, RANCHI - 835217. 2 . RESPONDENT - DCIT, CIRCLE - 1, RANCHI . 1 . CIT - RANCHI 2 . CIT(APPEALS) - RANCHI 3 . DR: ITAT - RANCHI BENCHES SR.P.S./H.O.O ITAT, RANCHI