9911796707
TMI Blog1979 (9) TMI 101X X X X Extracts X X X X X X X X Extracts X X X X ..... 9 which included an interest amount of Rs. 1,864 under s. 214. However, by an order under s. 154 the ITO held that the interest had been wrongly allowed to the assessee because the assessee had paid the last instalment of advance tax amounting to Rs. 56,800 only on 28th Dec., 1974. He, therefore, withdrew this allowance. On appeal the AAC was of the opinion that this dispute has also been the subj ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Smt. K.J.K., Bombay(1) by the 'B' Bench of the Tribunal of Bombay that interest on excess payment when the cheques has been cleared by the Reserve Bank after the due date could still be claimed even by way of rectification of the assessment order. According to the ld. Members: "The Board Circular does not say that if the cheque was presented within time and there was delay in its clearance, the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... interest of the Revenue and the order of the Commr. setting aside the order of the ITO on this score was erroneous. The appeal of the assessee was accordingly allowed. In view of the aforesaid discussion, this much is very clear that he point involved in this appeal is not free from difficulty and, therefore, such a matter could not be reopened in proceedings under s. 154, the scope of which is l ..... X X X X Extracts X X X X X X X X Extracts X X X X
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