1996 (9) TMI 80

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..... he Income-tax Act, 1961 (for short, "the Act"), the following question has been referred for opinion of this court : " Whether, on the facts and in the circumstances of the case, the Tribunal has not erred in holding that no interest under sections 139(8) and 217 of the Act can be charged at the time of rectification of the assessment order ? " The assessee is a company incorporated under the .....

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..... s. Being aggrieved, the Revenue preferred an appeal before the Income-tax Appellate Tribunal. The Tribunal dismissed the appeal. Hence, at the instance of the Revenue, the above question has been referred. We have heard Mr. G. K. Joshi, learned standing counsel appearing on behalf of the Revenue. None appears on behalf of the assessee. Mr. Joshi submits that if the return is filed at a belated .....

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..... interest at the rate prescribed under that section. Similarly under section 217 of the Act interest is liable to be paid for conditions specified therein. In this case admittedly as per the assessment proceeding the return was not filed on the due date. In our opinion, the interest is liable to be paid. Therefore, we answer the question in the negative, in favour of the Revenue and against the a .....

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