TMI Blog2010 (11) TMI 796X X X X Extracts X X X X X X X X Extracts X X X X ..... or the year 1992-1993 became altered. This happened only in the year 1999, obviously the assessee was not expected to guess, imagine or presume such an alteration in the years to come which is almost seven years later than the return of income filed by the assessee. Therefore the Tribunal was justified in saying that as on the date of return of income field on 29.12.1992, there was neither delayed payment of tax nor short fall of tax payable as income tax, substantial questions of law have to be answered against the revenue, appeal is dismissed. - ITA No. 79/2006 - - - Dated:- 22-11-2010 - Manjula Chellur, L. Narayana Swamy, JJ. K.V. Aravind, Adv., for the Appellant A. Shankar and M. Lava, Advs., for the Respondent JU ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... der dated 30.3.2001. Aggrieved by the said order, the assessee approached the Tribunal in ITA No.647/Bang/2001 and cross-objections No.70/Bang/2001. The Tribunal accepted the contention of the appellant and held that at the time of filing of the returns on 29.12.1992, the assessee would not have anticipated the alteration of the amounts so far as set off pertaining to assessment year 1991-92. Therefore, the tax payable by him on the return income as on 29.12.1992 was paid on time. Therefore, question of levy of interest would not arise in view of compliance of sub-section (4) of section 34-A. Aggrieved by this order of setting aside the levy of interest, the revenue is before us. 3. The following substantial questions of law were raised ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... xtent of 1/3rd of such amount. When such amounts came to be restricted to an extent of 2/3rd of such amount, automatically Rs.21,25,981/- would be enhanced by virtue of provision of Section 34-A. In other words but for Section 34A so far as the assessment year 1992-1993 is concerned, the assessee was not required to pay any tax on the original return income. By virtue of the order dated 26.03.1999 the set off pertaining to the previous years came to be altered. Consequently the unabsorbed allowances that were required to be shown for the year 1992-1993 became altered. This happened only in the year 1999, obviously the assessee was not expected to guess, imagine or presume such an alteration in the years to come which is almost seven years l ..... X X X X Extracts X X X X X X X X Extracts X X X X
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