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2015 (10) TMI 1403 - AT - Income TaxRectification of mistake - no interest is payable to the assessee and withdrew the interest granted under section 244A of the Act as held by AO - Assumption of jurisdiction under section 154 by the Deputy Commissioner of Income-tax - Held that:- It is not in dispute that the refund granted to the assessee was withdrawn by way of rectification order under section 154 of the Act. It is also not in dispute that the hon'ble High Court of Bombay in the case of Stock Holding Corpn. of India [2014 (11) TMI 899 - BOMBAY HIGH COURT ] has held that the assessee is entitled to interest on refund under section 244A of the Act in respect of self-assessment tax paid. Considering the facts in the light of the judicial decisions referred to hereinabove, in our considered view, the Assessing Officer erred in assuming jurisdiction under section 154 of the Act on a debatable issue. The learned Commissioner of Income-tax (Appeals) further erred in confirming the order of the Assessing Officer. We, therefore, set aside the order of the learned Commissioner of Income-tax (Appeals) and hold that the order passed by the Assessing Officer under section 154 of the Act is bad in law. - Decided in favour of assessee for statistical purposes.
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