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TMI Blog2005 (10) TMI 47X X X X Extracts X X X X X X X X Extracts X X X X ..... the Income-tax Act amounting to Rs. 1,56,970 - - - - - Dated:- 13-10-2005 - Judge(s) : D. A. MEHTA., MS. H. N. DEVANI. JUDGMENT The judgment of the court was delivered by D.A. Mehta J.-The following question has been referred by the Income-tax Appellate Tribunal, Ahmedabad Bench "C", under section 256(1) of the Income-tax Act, 1961 ("the Act"), at the instance of the Commissioner of Income-tax: "Whether the Appellate Tribunal is right in law and on facts in deleting the interest levied under section 215 of the Income-tax Act amounting to Rs. 1,56,970?" The assessment year is 1986-87 and the relevant accounting period is the year ended on March 31, 1986. While framing the assessment on February 7, 1989, under section 143(3) of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... before the Tribunal. The Tribunal also accepted the findings of the Commissioner (Appeals) that, in the facts and circumstances of the case, the assessee could not have anticipated the additions in question considering the fact that the Commissioner had, while acting under section 263 of the Act for earlier assessment years, namely, the assessment years 1982-83 and 1983-84, framed the order only in March, 1986, when the last instalment of advance tax had to be paid. Mr. M.R. Bhatt, learned senior standing counsel has been heard. Though served, there is no appearance on behalf of the respondent-assessee. According to Mr. Bhatt, the Tribunal had committed an error in holding that no interest was leviable under section 215(1) of the Act. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e on such current income. While computing the advance tax payable under section 209 of the Act, the assessee is required to take into consideration his total income of the latest previous year in respect of which, the assessee has been assessed by way of regular assessment; the assessee is also required to ascertain the total income as shown in the return of income of the latest previous year for a year which is later in point of time to the assessment year for which assessment is framed and consider the basis on which tax has been paid by the assessee under section 140A of the Act for such year. Thereafter, the assessee is required to ascertain which of the two figures exceeds the other, viz., whether the latest assessed income is higher t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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