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TMI Blog2011 (3) TMI 765X X X X Extracts X X X X X X X X Extracts X X X X ..... nsel for the appellant. Mr. Rohit Sood, Advocate for the respondent. A DARSH KUMAR GOEL, J ( Oral) . 1. This appeal has been preferred by the revenue under Section 260A of the Income Tax Act, 1961 against order dated 30.12.2002 passed by the Income Tax Appellate Tribunal, Amritsar Bench, Amritsar in ITA No.584(ASR)1996, for the assessment year 1981-82, claiming following su ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e additions and made assessment on net income of the assessee under Section 143/144B. The assessment was upheld by the CIT(A) except for setting aside part of the addition. The Tribunal initially held that the assessment was barred by limitation but this Court on reference, reversed the said view and held the assessment to be valid. Accordingly, the assessment was restored and the amount refunded ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... by limitation, the collection of the advance-tax itself become illegal and so also its detention. It has been further held that the tax deposited by the petitioner was in the nature of advance-tax and, therefore, it would bear simple interest under section 214 of the Act which as then prescribed was 12 percent per annum till the date of refund. In our view, the ratio laid down by the Hon'ble juris ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... finding and the applicability of the judgment of this Court in Deep Chand Jain to the present case. He submits that revenue was justified in effecting recovery but was not justified in claiming interest. 7. We are unable to accept the submission made on behalf of the assessee. Once assessment was validly made and the tax was due, there is no reason to exclude the applicability of interest ..... X X X X Extracts X X X X X X X X Extracts X X X X
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