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2014 (2) TMI 20 - RAJASTHAN HIGH COURTApplicability of proviso section 115JAA(2) - Revision u/s 263 - Held that:- The said proviso is not applicable as the present appeal relates to the assessment year 2000-01 when section 115JA was applicable - Secondly, the proviso to section 115JAA itself came to be introduced from April 1, 2006 - Decided against Revenue. Allowability of interest under section 244A - Revision u/s 263 - Held that:- As against the tax payable of ₹ 2.46 crores, the tax paid by the assessee amounted to ₹ 4.24 crores after giving due adjustment for MAT credit, TDS, advance tax and self-assessment tax - The assessee was, entitled to a refund of excess tax paid for the assessment year 2000-01 over and above the tax which was computed as being due and payable - Interest under section 244A was allowable - Granting interest by the Assessing Officer under section 244A was not erroneous - When two views are possible even otherwise the provisions of section 263 cannot be invoked - The learned Income-tax Appellate Tribunal had rightly come to the correct conclusion and rightly quashed the order of the Commissioner of Income-tax under section 263 of the Act - Decided in favour of assessee.
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