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TMI Blog2016 (4) TMI 1239X X X X Extracts X X X X X X X X Extracts X X X X ..... d 1996-97. All these appeals were heard together and are being disposed of by this common order, for the sake of convenience. 2. In all these years, the Assessing Officer passed rectification order u/s.154 of the Income Tax Act, 1961 (in short "the Act") withdrawing a portion on interest granted to the assessee u/s. 244A of the Act on the refund arising upon giving effect to the appellate order. 3. The assessee was aggrieved by the rectification order passed by the Assessing Officer and hence filed appeals before learned CIT(A) challenging validity on rectification order and also challenged the withdrawal of interest already granted to the assessee. The learned CIT(A) upheld the validity of rectification order. With regard to the contenti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... refund, the Assessing Officer deducted the interest already granted to the assessee from the tax portion of the refund due and accordingly computed the interest on the amount so reduced. In the original proceeding the Assessing Officer had accepted the claim of the assessee that the tax portion of the refund already granted alone should be deducted from the total refund arising upon giving effect to the order passed by Income Tax Appellate Tribunal and accordingly granted interest. However the assessing officer, thereafter, passed the impugned rectifications orders u/s. 154 of the Act and reduced the amount of interest already paid u/s. 244A of the Act from the tax portion of refund due and the same has resulted in reduction of the interest ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 7.07.2015 rendered in the case of CIT Vs Tata Power Co. Ltd. in ITA No.1560/M/2013. Accordingly, the learned AR submitted that the orders passed by learned CIT(A) on merits have to be upheld, since they are in accordance with the decision rendered by the Hon'ble Jurisdictional Bombay High Court. 8. On the contrary the learned DR placed strongly reliance on the assessment order. 9. We have heard the parties and perused the record. We find merit in the submission of the assessee that the issue sought to be rectified u/s. 154 of the Act is a debatable issue, since an identical issue has been decided in favour of the assessee by the co-ordinate bench of Tribunal Tata Power Co. Ltd. (Supra). The very fact that an identical issue has travelled ..... X X X X Extracts X X X X X X X X Extracts X X X X
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