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TMI Blog1987 (11) TMI 137X X X X Extracts X X X X X X X X Extracts X X X X ..... terest under s. 215 was levied. The rectification of the assessment was called for by the Commissioner under s. 263 as a consequence of an amount of Rs. 12.59 lacs representing excess excise duty paid by the assessee as not allowable but represented income of the year, which refund was reflected by the assessee as its income in asst. yr. 1979-80. 3. The assessee on these facts moved an application to the IAC who came to the conclusion that under s. 154 only apparent mistakes could be rectified and anything which does not fall within that category cannot be rectified. According to him the assessment that was made whether it could be called regular assessment or a reassessment and levy of interest was a debat able issue. 4. The CIT(A) consi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rather there has been a consistency of judicial pronouncement as regards the meaning of the term `Regular Assessment' to mean assessment made at the first time. He also pleaded that s. 215 did not contain any provision for enhancement of interest but contains provision for reduction. He placed reliance on 35-Taxman page 117 at page 138, Bardolia Textile Mills vs. ITO (1985) 45 CTR (Guj) 274 (FB) : (1985) 151 ITR 389 (Guj) (FB) and CIT vs. Golcha Properties (P) Ltd (1987) 61 CTR 185 (Raj) High Court on the specific issue of charging of interest. He also placed reliance In S. Govindaraju vs. CIT (1981) 25 CTR (Karn) 340 : (1982) 138 ITR 495 (Karn), M.G. Brothers vs. CIT (1985) 47 CTR (AP) 213 (1985) 154 ITR 695 (AP) and CIT vs. Devichand Panm ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the amendment that have been brought in w.e.f. 1st April, 1985 also goes to indicate that the re-assessment that are being made for the first time under s. 147 are only to be regarded as Regular Assessment. In other words the legislatures have only clarified the position. that, any assessment originally made followed by any other assessment as a consequence of order under ss. 147,263 & 264 etc. Would not be treated as Regular Assessment. Therefore, the claim of the assessee was rightly upheld by the CIT(A) and we, therefore uphold that there was absolutely no dispute in the claim of the assessee and it has been rightly upheld.
7. In the result, the appeal of the Department is accordingly dismissed. X X X X Extracts X X X X X X X X Extracts X X X X
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