9911796707
TMI Blog2008 (7) TMI 390X X X X Extracts X X X X X X X X Extracts X X X X ..... garding status of the assessee. The Tribunal has further observed, the additions made in the assessment order by the AO were highly debatable and the same were not foreseen at the time of filing the estimate of advance-tax. At the same time, it cannot also be denied the fact that the assessee was under a bona fide belief that its status of a company in which public are substantially interested wou ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he circumstances of the case, the Income Tax Appellate Tribunal has substantially erred in law and on facts in deleting the interest charged under Section 215 of the Income-tax Act? 2. At the time of admission of this appeal, the court had directed that the appeal is to be heard with Income Tax Reference No. 57/1998 (CIT v. Emtici Engineering Ltd. [2009] 310 ITR 266 (Guj)) and Tax Appeal N ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... charged under sec. 215 of the Income-tax Act, we are of the view that this question being a consequential one, the same is required to be answered in favour of the assessee and against the revenue. Even while disposing of the appeal, the Tribunal has observed in its order that the liability for charging interest u/s 215 arose due to addition in total income declared by the assessee and due to acce ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e, of the view that the Assessing Officer may pass consequential order while giving effect to the order of this court. 8. Subject to the aforesaid observations, Question No. 2 formulated by this court is also answered in favour of the assessee and against the revenue since Question No. 1 is decided in favour of the assessee and against the revenue. 9. This Tax Appeal is accordingly dismiss ..... X X X X Extracts X X X X X X X X Extracts X X X X
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