TMI Blog1979 (6) TMI 68X X X X Extracts X X X X X X X X Extracts X X X X ..... ssee is a registered firm. For the asst. yr. 1974-75, corresponding to the year ended 31st day of March, 74, the assessee paid advance-tax according to the demand under s. 210 in the amount of Rs. 1,398 each on 14th Sept., 73 and 20th Dec., 73 and Rs. 1,399 on 13th March, 74. The assessee thereafter paid a sum of Rs. 3,670 on 30th March, 74. The ITO found on making the assessment that the total ta ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on behalf of the assessee that under s. 214 the view that interest was allowable only on advance-tax paid by strictly complying with the provisions of ss. 207 to 213 was debatable as even amounts paid within the previous year were taken into account for the purpose of adjustment against taxes due as well as for the purpose of levying interest under s. 215 or penalty under s. 273. It was submitted ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hat the assessee became entitled to refund only after giving credit to the sum of Rs. 3,670 paid on 30th March, 74. According to the Revenue this amount cannot be treated as advance-tax payable under any of the ss. 207 to 213 which alone qualify interest under s. 214, According to the assessee it is debatable. Though the Revenue sought to make it as a mistake of fact, it is obvious that the allege ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Revenue to charge interest at the rate of 12 per cent from 1st day of April, next following the financial year and the amount by which the advance-tax paid under s. 212 falls short of the assessed tax. When we read s. 214, we find that here also the interest liable to be paid to he assessee the amount by which the advance-tax paid during the financial year exceeds the amount of tax determined ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e discovered only after a debate it can not be mistake apparent from record. Hence we are of the opinion that in the present case the alleged mistake of the ITO having granted interest under s. 214 on amounts which do not qualify is not a mistake apparent from record and it follows that he could not rectify it under the provisions of s. 154 of the Act. Hence we cancel the rectification order. 6. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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