TMI Blog1997 (8) TMI 91X X X X Extracts X X X X X X X X Extracts X X X X ..... ential effect to the order of the CIT(A) for asst. yr. 1983-84 whereby the total income was reduced to Rs. 91,82,771. Then the assessee asked for interest under s. 214 upto 12th Aug., 1988 the AO rejected the plea. He held that the decision of the Gujarat High Court in the case of Bardolia Textile Mill vs. ITO (1985) 45 CTR (Guj) 274 (FB) : (1985) 151 ITR 389 (Guj) was not applicable to the assess ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rest. The assessee's counsel however submitted that though the decision of the Gujarat High Court in the case of Bardolia Textile Mills has been overruled, the decision of Gujarat High Court in the case of D.J. Works vs. Dy. CIT (1992) 102 CTR (Guj) 2 : (1992) 195 ITR 227 (Guj), had not been overruled. It was submitted that though the decision of the Gujarat High Court in the case of Bardolia Text ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... paid whenever an amount which has been retained by the tax authority in exercise of the statutory power becomes refundable as a result of any subsequent proceedings. It must be presumed that the legislature was aware of the wide interpretation of the word 'assessment' given under the Indian IT Act, 1922. "Assessment" had been given an inclusive meaning in sub-s. (8) of s. 2. It includes reassessm ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he only question that remains to be settled is whether the interest on the basis of the regular assessment is not given within the time, any further interest can be allowed on the same. We are of the opinion that it is not possible to hold that the decision of the Supreme Court by implication has overruled the decision of the Gujarat High Court in the case of Chimanlal S. Patel as well. If the int ..... X X X X Extracts X X X X X X X X Extracts X X X X
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