2016 (4) TMI 816

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..... e petitioner assessee has challenged intimation dated 6th May, 2004 issued under Section 245 of the Income Tax Act, 1961. By the impugned intimation the assessee was informed that net refund for the assessment year 1983-1984 of Rs. 1,30,06,113/- was paid in the manner indicated. Mr. Bagchi, learned Senior Advocate appearing on behalf of the assessee submits the assessee has two grounds of challen .....

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..... )(b) had caused the assessee to receive interest at the rate of only 6% per annum simple. Therefore the assessee was prejudiced by the failure on the part of the authority to exercise jurisdiction vested in it. Hence, Mr. Bagchi submits, interference is warranted. Mr. Nizamuddin, learned Advocate appearing on behalf of the revenue relied on a judgment delivered by learned Single Judge of this Cou .....

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..... re the Writ Court. He submits further, he would rely on judgments of the Supreme Court for the declaration of law on the point that interest on interest is not payable. He also submits that the petitioner, if had found there was an error in the intimation, could have taken steps under Section 154 of the said Act for rectification of such errors. The question for adjudication is whether the Author .....

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