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2011 (12) TMI 366 - HC - Wealth-taxWhether the rejection of their claim for' interest on refund of the tax paid under the Wealth Tax Act, stating that the tax paid was not in response to any 'demand' raised, but by way of self-assessment, is justified or not - the income of the firm was given, as estimated, since the accounts of the firm were not finalized. But, subsequently, a revised return was filed on 22.03.1992, declaring the net wealth as Rs. 87,88,200/- based on the actual facts and figures - The absence of issuance of any notice under Section 30 will not or cannot tilt the balance in any manner as the liability to pay the amount is not on the basis of the demand notice, but on the basis of the assessment - The protracted litigation became inevitable, only because of the wrong course pursued" by the respondents and later, the version of the petitioner/assessee came to be accepted, as per Ext. P3, which became final, as the department- did not pursue the matter any further - the said excess amount was being wrongfully retained by the Revenue, virtually preventing the petitioner/assessee from obtaining the refund at proper time - Decided in favor of the assessee
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