1997 (10) TMI 44 - HC - Income Tax

Summary

The High Court of Allahabad, in response to a question referred by the Income-tax Appellate Tribunal, held that the Income-tax Officer was incorrect in cancelling an order under section 154 of the Income-tax Act for allowing interest on refunds resulting from a rectification order. The Court cited a previous decision by the Bombay High Court and concluded that the question was debatable, thus supporting the assessee and ruling in their favor against the Revenue.