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TMI Blog2007 (5) TMI 232X X X X Extracts X X X X X X X X Extracts X X X X ..... see. JUDGMENT The Income-tax Appellate Tribunal, Delhi, has referred the followingquestion of law under section 256(1) of the Income-tax Act, 1961 (hereinafter referred to as "the Act"), for the opinion of this court : "Whether, on the facts and circumstances of the case and in accordance with the provisions of law, the Tribunal was justified in confirming the order of the Commissioner of Income-tax (Appeals) cancelling the levy of interest under section 217(1A)?" 2. The reference relates to the assessment year 1973-74. 3. Briefly stated the facts giving rise of the present reference are as follows : 4. A demand of Rs. 29,88,105 was raised under section 210 of the Act by the Department and the demand notice was served on June 9, 1972. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on its petition seeking extension of time by the month. It was on February 20, 1973, that the Commissioner of Income-tax, Kanpur, rejected the petition of the appellant-company under the provisions of the law. The reason for rejection of its petition was that the same did not lie with the Commissioner of Income since the accounting year of the company had already expired. On March 31, 1973, the appellant-company paid a further sum of Rs. 5 lakhs towards advance tax on the basis of the financial picture emerging as a result of audit. Thus, the total tax paid (claimed by the appellant-company as advance tax) was Rs. 60.14 lakhs. The return of income was submitted by the appellant-company on November 30, 1973, on an income of Rs. 1,07,18,483. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the assessing authority in three instalments within the stipulated period. The respondent had filed an application dated December 13, 1972, much before the last date for depositing the last instalment, for extension of time for filing the statement of income for the purpose of depositing the advance tax on the ground of non-finalisation of accounts and audit. The application was kept pending. However, on December 15, 1972, the respondent had deposited a sum of Rs. 20 lakhs and odd making the total deposit of Rs. 50 lakhs and on January 15, 1973, it had filed revised estimate of income and deposited the balance amount of tax which came to Rs. 5 lakhs and odd. The application was rejected by the Commissioner of income-tax on February 20, 197 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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