2001 (7) TMI 10

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..... the revenue is liable to pay interest on the amount of interest which it should have paid to the assessee but has unjustifiably failed to do - hence decision of tribunal allowing interest upon interest, was justified
S. P. Bharucha, Y. K. Sabharwal and Brijesh Kumar JJ. For the Appellant : R. P. Bhatt, Senior Advocate ( Mrs. Lakshmi Iyengar , B. V. Balaram Das and Ms. Sushma Suri, Advocates) .....

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..... en followed by the same High Court in Chimanlal S. Patel v. CIT [1994] 210 ITR 419. These decisions hold that the Revenue is liable to pay interest on the amount of interest which it should have paid to the assessee but has unjustifiably failed to do. The Revenue has not challenged the correctness of the two decisions of the Gujarat High Court. They must, therefore, be bound by the principle laid .....

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