ITO, Thanjavur V. Shri R.Krishnakumar, Thanjavur

ITA 770/CHNY/2012

• Counselvise Citation: [2012] 140 COUNSELVISE.COM (IT) 64361 (ITAT-CHENNAI)
• Duration Of Justice: 5 month(s) 15 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 28-09-2012
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Next Hearing Date: 06-09-2012
• Assessment Year: 2008-2009
• Appeal Filed On: 12-04-2012
• Result in Favour of: Assessee
• Court: TRIBUNAL

Judgement Text

ITA NO. 770 /MDS/2012& C.O.NO.84/MDS/2012 9 AMOUNT OF ` 51,617/- HAS BEEN PAID BY THE ASSESSEE TO M/S.ANUSH SECURITIES ON ACCOUNT OF LATE PAYMENT. AS PER THE CASE OF THE ASSESSEE, THE SAID PENALTY CHARGES ARE IN FACT INTEREST PAID BY THE ASSESSEE TO M/S. ANUSH SECURIT IES ON ACCOUNT OF DELAYED PAYMENT. BY WHATEVER NAME CALLED THE ADDITIONAL CHARGES HAVE BEEN PAID BY THE ASSESSEE F OR DEFAULT IN NOT MAKING TIMELY PAYMENT. EVEN IF IT IS CONSIDERED TO BE PENAL INTEREST FOR THE DELAYED PAYMENT, THE SAME CANNOT B E ALLOWED AS EXPENDITURE. THEREFORE, THE CROSS OBJECTION FILE D BY THE ASSESSEE IS DISMISSED. 14. IN THE RESULT, THE APPEAL OF THE REVENUE AS WEL L AS CROSS OBJECTION OF THE ASSESSEE IS DISMISSED BEING DEVOI D OF MERIT. ORDER PRONOUNCED IN THE OPEN COURT ON FRIDAY, THE 28 TH DAY OF SEPTEMBER, 2012 AT CHENNAI. SD/- SD/- ( N.S. SAINI ) ( VIKAS AWASTHY ) ACCOUNTANT MEMBER JUDICIAL MEMBER CHENNAI, DATED THE 28 TH SEPTEMBER, 2012. SOMU COPY TO: (1) APPELLANT (4) CIT(A) (2) RESPONDENT (5) D.R. (3) CIT (6) G.F.