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2015 (5) TMI 792 - HC - Income TaxInterest added under Section 245D(2C) cancelled by ITAT - Held that:- Question of levying any additional interest over and above what is permissible under Chapter XIX-A would not arise in the given circumstances of the case. Concededly at the time when the application was filed before the settlement commission, the assessee deposited the admitted tax liability. Soon thereafter, when the application was admitted, the amount required was deposited within the time stipulated under Section 245D(6A). The further tax liability determined was payable after the final decision. The records and materials examined by the CIT(A) and upheld by the ITAT disclose that even the tax liability finally determined was satisfied. In these circumstances, the addition of interest for the period during the pendency of the application before the settlement commission was entirely unwarranted. We do not see any reason to disturb the concurrent findings of fact. - Decided against revenue..
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