Interest U/s 234 A

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This query is : Resolved

MAYUR DAVE (Querist)

19 March 2009 Income Tax Return for A.Y. 1998-99 filed on 30.11.2000. Delay in filing return due to not providing zerox copy by IT Department as search had been conducted on 09.09.1998. However Assessing Officer accepted the reason for late filing of Audit Report and Income Tax Return and accordingly dropped penalty U/s 271 B. IN this interest U/s 234 A is payable or Not ? Is there any judgment / Circular/ Notification in favour of assessee ?

Please advice me at an earliest

CA Tilak Raj Sharma

CA Tilak Raj Sharma (Expert)

19 March 2009 No interest u/s 234A in this case.

Please refer to case - PARAS BANSILAL PATEL V. B.M. JINDEL (2004) 135 TAXMAN 125 (GUJ).

CA LOKESH KASAT, FCA, M.Com

CA LOKESH KASAT, FCA, M.Com (Expert)

19 March 2009 CBDT order No. 400/29/2002 dated 26.6.06 read with circular No 783 dated 18.11.99 (240 ITR 183 St) clarify your issue and speciafically says that in the course of search & seizure or any other case Interest can be waived off if ROI is not filled due to this.

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