2000 (1) TMI 37

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..... stance of the Department Revenue, forwarded the following question for our opinion under section 256(1) of the Income-tax Act, 1961 : "(1) Whether, on the facts and circumstances of the case, the Appellate Tribunal has been right in law in holding that the assessee is entitled to interest under section 214 from April 1, 1977, to the date of orders, namely, (a) provisional assessment, (b) order u .....

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..... the Income-tax Officer granted a further refund of Rs. 1,22,422 by a rectification order section 154 of the Income-tax Act. The concerned Income-tax Officer granted interest on the refund amounts only from April 1, 1977 to February 14, 1978, in other words, upto the date of the provisional assessment. The claim of the assessee is that he should have been granted the interest on the amounts whic .....

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..... he date of the rectification order for which the Tribunal relied on the Board's circular. The Tribunal, ultimately, held that the interest is payable to the asses see on the various amounts from April 1, 1977 up to the date of the order which entitled the assessee to the amounts, (a) on provisional assessment, and (b) on an order under section 143(3), and (c) on rectification order. After havi .....

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