2014 (7) TMI 209

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..... Bench: This is a set of four Appeals by the Assessee directed against the separate Orders by the Commissioner of Income Tax (Appeals)-22, Mumbai ('CIT(A)' for short) of even date, i.e., 29.09.2010, dismissing the assessee's appeals contesting the orders u/s.154 of the Income Tax Act, 1961 ('the Act' hereinafter) (all) dated 27.09.2007 passed in its case for the assessment years (A.Ys.) 1992-93, .....

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..... the time prescribed by law, i.e., 30 days of the service of the notice of demand, so that the assessee is deemed to be in default for some time, though of course the said demand stood satisfied and the notice of demand discharged in time, resulting in a refund to the assessee on a account of a favorable order subsequently. 3. We have heard the parties, and perused the material on record. 3.1 Ou .....

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..... ded. The provision of section 3 of the Taxation Laws (Continuation and Validation of Recovery Proceedings) Act, 1964, which deals with the revival of the notice of demand which is not satisfied, would not apply in such a case. 3.2 To the extent, therefore, the DN stands satisfied in full within the time stipulated, there is no revival of demand upon a subsequent restoration by a higher appellate .....

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..... of and under such circumstances that the Revenue seeks to charge interest under section 220(2) from an anterior date. We shall, as afore-stated, answer the issue/s arising on first principles, if only for the reason that the proceedings under reference are rectification proceedings, precluding admission or determination of debatable issues. The basis of the decision in the case of Vikrant Tyres L .....

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..... 3.3 The figures for the tax arising and its payment/adjustment/s, as well as the dates thereof, are, as emphasized by the ld. AR during hearing, not in dispute. We therefore direct the working of the interest under section 220(2), if any, for the relevant years in terms of the foregoing. We decide accordingly. 4. In the result, the assessee's appeals are disposed of in the aforesaid terms. Ord .....

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