9911796707
TMI Blog1997 (7) TMI 90X X X X Extracts X X X X X X X X Extracts X X X X ..... of Income-tax References Nos. 66 and 67 of 1984, as common questions of law and fact are involved in both these cases. At the instance of the Revenue, the Income-tax Appellate Tribunal, Delhi Bench "C", New Delhi, has referred the following question of law to this court for its opinion, for the assessment years 1977-78 and 1979-80 by drawing up a common statement of the case because the question ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... claiming that interest should be allowed under section 214 of the Act on the gross refundable amount of Rs. 9,162. The Inspecting Assistant Commissioner of Income-tax found that the demand under section 210 of the Act came to Rs. 6,44,480 whereas the assessee had filed an estimate on May 12, 1976, estimating the company's liability at Rs. 22,000. Another estimate was filed on December 12, 1976, es ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d credit for the advance tax paid and, therefore, the amounts paid within the financial year should be eligible for payment of interest under section 214 of the Act. Thereafter, at the instance of the Revenue, the question reproduced in the earlier part of the judgment, has been referred to this court for the opinion. Assessment year 1979-80 ending March, 31, 1979 : The assessee moved an appli ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cluded, no interest under section 214 of the Act could be admissible to the assessee. The order of the Inspecting Assistant Commissioner was upheld by the Commissioner of Income-tax (Appeals) in appeal. The assessee filed a second appeal before the Tribunal, which was accepted. It was held by the Tribunal that the assessee had made the payments before the close of the financial year and had rece ..... X X X X Extracts X X X X X X X X Extracts X X X X
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