BEFORE:
The Hon'ble JUSTICE PINAKI CHANDRA GHOSE
The Hon'ble JUSTICE TAPAS KUMAR GIRI
Date : 19th November, 2008.
The Court : We are satisfied with the grounds made in the
petition for condonation of delay. Hence, the delay in filing the
application is condoned and we allow the application being G.A.No. 3378
of 2008. G.A.No. 3378 of 2008 is thus disposed of.
We now take up the appeal. The only question tried to be urged
before us by Mr. Dhandania, learned Advocate appearing in support of the
appeal is, whether the interest can be charged under section 234D of the
Income Tax Act, 1961 with effect from 1.6.2003 when the same came into
force with effect from 1.6.2003 and the assessment year is 2002-03, and
whether the said section can be applicable to the respondent Coal India
Ltd.
We have perused the order passed by the Tribunal. We have found that
the Tribunal has extensively dealt with the matter and has correctly
assessed the facts and law in the matter and came to the conclusion that
the interest cannot be charged under section 234D of the said Act and
could not be given effect to retrospectively since the amendment came into
force on 1st June, 2003 and therefore cannot be applicable in rewpect of
the assessment year 2001-02.
We do not find any reason to interfere with the order so passed by the
learned Tribunal and the order so passed by the learned Tribunal does not
suffer from any illegality or irregularity. In our considered opinion, we
do not find that any substantial question of law is involved in this
appeal. Hence, the appeal being ITA No. 776 of 2008 is dismissed.
Urgent xerox certified copy of this order, if applied for, be supplied
to the parties subject to compliance with all requisite formalities.
(PINAKI CHANDRA GHOSE, J.)
(TAPAS KUMAR GIRI, J.)
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