2003 (3) TMI 652 - AT - Income Tax

Summary

The Appellate Tribunal ITAT Amritsar allowed the appeal by the assessee against the order of the DCIT(A), Amritsar, related to assessment year 1964-65. The grievance was about the entitlement to interest on interest allowed under section 244(1) of the Income-tax Act, 1961. The tribunal directed the Assessing Officer to examine the issue in light of a Supreme Court decision and give the assessee an opportunity to be heard. The appeal of the assessee was allowed for statistical purposes.