2006 (7) TMI 182

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..... years 2002-03 and 2003-04, respectively. Since the question involved in both the assessment years is identical, we are dealing with the facts pertaining to the assessment year 2002-03. The assessee initially filed its return of income on October 31, 2002, claiming a loss of Rs. 2.13 crores. Subsequently, the assessee filed a revised return on March 10, 2003, and along with the revised return .....

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..... sment year, which translates to April 1, 2002, until the date of payment, i.e., July 19, 2004. On the other hand, according to the Revenue, the interest was payable for the period from April 1, 2004, till July 19, 2004. The Tribunal, in the impugned order, has accepted the contention of the assessee and has directed payment of interest for the period from April 1, 2002, onwards till July 19, 200 .....

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..... the ignorance of the assessee as to his rights. Without commenting on the correctness of this reason, it only needs to be mentioned that the assessee did, in the present case, file a revised return for claiming tax credit on account of TDS well within time and as such was aware of its rights. The third reason given by the Tribunal, which is really a question of fact and on this the Tribunal has c .....

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