9911796707
TMI Blog1997 (11) TMI 86X X X X Extracts X X X X X X X X Extracts X X X X ..... stage of admission. This writ petition is filed seeking for a direction to the second respondent not to take coercive steps for recovery of interest of Rs. 5,62,188 levied under section 220(2) of the Income-tax Act for the assessment years 1988-89 and 1989-90 pending the disposal of R. C. No. 8 of 1994 on the file of this court. R. C. No. 8 of 1994 relates to the assessment year 1988-89. It is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... osal of the reference is necessary or is in the interest of justice, then, the assessee is entitled to apply before the appellate authority to grant a stay until disposal of the reference by the High Court or until such time as the appellate authority thought fit." It was also pointed out that in case the appellate authority committed a jurisdictional error or acted improperly in exercise of its ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... but not the interest due thereon. It is to be noted that the interest is linked up with tax and if the reference is answered in favour of the assessee and the tax demand is set aside, the interest levied under section 220(2) will be consequentially wiped out. That being the case, we are not in a position to appreciate as to how there could be a bar against the power to stay the recovery of inte ..... X X X X Extracts X X X X X X X X Extracts X X X X
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