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TMI Blog2003 (6) TMI 11X X X X Extracts X X X X X X X X Extracts X X X X ..... the expiry of the period of limitation provided in the said section – Thus, imposition of interest was liable to be sustained - - - - - Dated:- 16-6-2003 - Judge(s) : G. SIVARAJAN., J. M. JAMES. JUDGMENT All these appeals are filed by the Commissioner of Income-tax, Kochi, against two separate orders of the Income-tax Appellate Tribunal, Cochin Bench, in I.T.A. Nos. 312, 313, and 314/Coch. of 1995 in respect of the assessment years 1986-87, 1987-88 and 1988-89 in connection with the orders passed by the Assessing Officer under section 201(1) of the Income-tax Act, 1961 (for short "the Act") and in I.T.A. Nos. 233, 234 and 235/Coch. of 1995 in respect of the assessment years 1986-87, 1987-88 and 1988-89 in connection with the orders ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hority found that the assessee had defaulted in deducting the tax due on the payment of bonus paid to its employees by virtue of the provisions of section 201(1) of the Act. The first appellate authority also found that in view of the said default the assessee has become liable to pay interest on the defaulted amount by virtue of the provisions of section 201(1A) of the Act. However, the first appellate authority held that since the recovery of the defaulted tax has become barred under the provisions of section 231 of the Act the recovery of interest on such defaulted amount was barred under the said provision. Being aggrieved by the order of the first appellate authority both the assessee and the department filed appeals before the Appella ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g counsel submitted that the period of limitation provided under section 231 of the Act expires only on March 31,1990, and March 31,1991, respectively. Standing counsel further submitted that since the deletion of section 231 of the Act happened before the expiry of the period of limitation the effect is that the period of limitation provided under section 231 no longer survives with respect to the assessment years 1987-88 and 1988-89. Standing counsel accordingly submitted that the orders of the Tribunal so far as the assessment years 1987-88 and 1988-89 will have to be set aside and the levy of interest under section 201(1A) has to be upheld and the recovery of tax under section 201(1) and the levy of interest under section 201(1A) has to ..... X X X X Extracts X X X X X X X X Extracts X X X X
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