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2015 (9) TMI 500 - ALLAHABAD HIGH COURT

2015 (9) TMI 500 - ALLAHABAD HIGH COURT - TMI - Rectification of mistake - interest under Section 220(2) of the Act was charged from the date of the original Assessment Order dated 26.3.1992.- Held that:- In the instant case, the original demand pursuant to the first Assessment Order dated 26.3.1992 was duly satisfied and the amount was refunded pursuant to the first rectification order passed under Section 154 on 15.9.1994. In similar circumstances, the Supreme Court in the case of Vikrant Tyre .....

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n Section 220(2) could be invoked.

In the light of the aforesaid decision, we find that the original demand pursuant to the Assessment Order dated 26.3.1992 was paid by the assessee and the demand was satisfied. Subsequently when a fresh order was passed by the Assessing Officer on 1.12.1995 imposing a fresh demand interest could only be levied, if any, after 30 days from 1.12.1995, if it was not paid within the said period. No substantial question of law arises. - Income Tax Appeal N .....

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come Tax Act (hereinafter referred to as the Act) claiming that the Assessing Officer committed a mistake which is apparent on the face of the record and that the Assessment Order requires rectification. The application of the assessee was allowed and the Assessing Officer passed a Revised Assessment Order dated 15.9.1994, as a result, the Assessment was revised at nil and the Assessing Officer issued a refund voucher of ₹ 2,48,33266/- and another refund voucher of ₹ 76,04,798. Subse .....

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filed an appeal which was dismissed and, thereafter, preferred a Second Appeal before the Tribunal which was allowed. The Department being aggrieved by the order of the Tribunal has filed the present appeal under Section 260(A) of the Income Tax Act contending that a substantial question of law arises for consideration, namely, that interest under Section 220(2) was chargeable from the date of the Original Assessment Order dated 26.3.1992 and not from the date of the revised order under Section .....

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