9911796707
TMI Blog1990 (11) TMI 68X X X X Extracts X X X X X X X X Extracts X X X X ..... f 1990, a public limited company, is the appellant in this writ appeal. In the original petition, the prayer was to quash exhibit P-9 order passed in revision by the second respondent-Commissioner of Income-tax, dated November 17, 1988. The appellant is an assessee to income-tax. For the assessment year 1971-72, the appellant filed the return of income on October 15, 1971. The assessment was origi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t" occurring in section 214(1) of the Income-tax Act as the initial assessment or the first assessment made by the Income-tax Officer under section 143(3) or under section 144 of the Act and held that it does not include any modified or revised order passed by the Income-tax Officer subsequently to give effect to any appellate order. It was held that, under section 214(1) of the Act, interest shou ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tax paid during the financial year. There is a short cleavage of judicial opinion on this point. The Calcutta, Gujarat and Rajasthan High Courts, in the decisions in Chloride v. CIT [1977] 106 ITR 38 (Cal) ; General Fibre Dealers Ltd. v. ITO [1979] 116 ITR 40 (Cal) ; Bardolia Textile Mill v. ITO [1985] 151 ITR 389 (Guj) [FB] and CIT v. M. L. Sanghi [1988] 170 ITR 670 (Raj), have held that a fresh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2 (P H) Nizam's Religious Endowment Trust (Trustees of H. E. H.) v. ITO [1981] 131 ITR 239 (AP) and CIT v. Carona Sahu Co. Ltd. [1984] 146 ITR 452 (Bom) [FB]. The Full Bench decision of this court in G. B. Transports' case [1985] 155 ITR 548 is binding on us. So in agreement with the learned single judge, we are of opinion that exhibit P-9 order assailed in the original petition is not liable ..... X X X X Extracts X X X X X X X X Extracts X X X X
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