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TMI Blog2015 (2) TMI 73X X X X Extracts X X X X X X X X Extracts X X X X ..... ) of the Wealth-Tax Act, 1957, (hereinafter referred to as the 'Act') when the assessee had submitted return of self assessment. 2. The learned Single Judge held that the assessee was entitled to interest on refund of wealth-tax, which is under challenge in these Writ Appeals filed by the Revenue. 3. The assessee made self assessment and filed returns. The returns were processed under Section 16(1) and they were accepted. However, the Assessing Officer issued notice under Section 16(2) for scrutiny assessment. The assessee filed revised returns thereafter. Assessment orders were passed by the Assessing Officer without looking into the revised returns. Appeals were filed against the assessment orders. The Appellate Authority set as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the assessee shall be liable to pay such tax together with interest payable under any provision of the Act for the delay in furnishing the return and the return shall be accompanied by proof of payment of the tax and interest. Section 15B(2) provides that after the regular assessment under Section 16 has been made, any amount paid under sub- section (1) of Section 15B shall be deemed to have been paid towards the regular assessment. Section 16(1)(i) of the Act provides for an intimation to be sent to the assessee if any tax or interest is found due on the basis of the return under Section 14 or Section 15. Such intimation shall be deemed to be a notice of demand under Section 30 of the Act. Sub-clause (ii) of sub-section (1) of Section 16 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rposes of this clause, "date of payment of the tax or penalty" means the date on and from which the amount of tax or penalty specified in the notice of demand issued under section 30 is paid in excess of such demand. (b) If the proceedings resulting in the refund are delayed for reasons attributable to the assessee, whether wholly or in part, period of the delay so attributable to him shall be excluded from the period for which interest is payable and where any question arises as to the period to be excluded, it shall be decided by the Chief Commissioner or Commissioner whose decision thereon shall be final. (c) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nder Section 30 of the Act. Section 30 of the Act provides that "when any tax, interest, penalty, fine or any other sum is payable in consequence of any order passed under this Act, the Assessing Officer shall serve upon the assessee a notice of demand in the prescribed form specifying the sum so payable". For the issuance of a notice under Section 30, the pre-requisite is an order passed under the Act. But refund under sub-section (4B) of Section 34A would arise not only in a case where a demand is made under Section 30 of the Act, but it covers an amount of refund due as provided under clause (ii) of sub-section (1) of Section 16 as well. A refund under clause (ii) of sub-section (1) of Section 16 would not be in a case where a demand not ..... X X X X Extracts X X X X X X X X Extracts X X X X
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