TaxTMI 
TaxTMI 
2007 (2) TMI 130
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.... Appellate Tribunal in ITA No.1733/Mds/1995 dated 22.7.2003, raising the following substantialquestion of law. "Whether in the facts and circumstances of the case, the Tribunal was right in holding that tax paid under section 140A can be treated as "amount paid in pursuance of a....
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....82 was not set off. Accordingly, the total income was revised. Deducting the advance tax, tax under section 140A and interest under sections 216 & 139(8) of the Act, refund was determined. The assessment again rectified and interest under section 244 of the Act payable to the assessee on the amount of r....
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....1989 to July 23, 1989, viz., the date following the expiry of three months from the end of the month in which the appellate order was passed to the date of refund. The Commissioner of Income-tax (Appeals) also excluded the payment made under section 140A of the Act. Finding that the rate of interest was not correct, the Commissioner of Income-tax (Appeals) enhanced th....
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....stries Ltd. v. CIT [1995] 216 ITR 759, held that after adjustment of advance tax at the time of regular assessment, if some balance remains to the credit of the assessee, that balance is treated as excess amount of advance tax which has to be refunded with interest. This Court also held that the assessee is entitled to interest under section 18 of the Surtax Act....