https://www.taxtmi.com/caselaws?id=55578 Protective assessments of the same income could not be retained once the substantive liability in the main trust's hands had been settled under the Kar Vivad Samadhan Scheme, 1998, because the duplicated tax demand could not survive and the tax paid on the beneficiary assessments became refundable. Interest on the refund followed as a compensatory incident of the delayed repayment. The rectification orders giving effect to that settled position were not erroneous or prejudicial to the Revenue, so revision under section 263 was not available. The refund, interest, and rejection of revision were therefore upheld in favour of the assessees. en-us Fri, 07 Jul 2006 00:00:00 +0530 Wed, 15 Jul 2015 15:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55578 Protective assessments of the same income could not be retained once the substantive liability in the main trust's hands had been settled under the Kar Vivad Samadhan Scheme, 1998, because the duplicated tax demand could not survive and the tax paid on the beneficiary assessments became refundable. Interest on the refund followed as a compensatory incident of the delayed repayment. The rectification orders giving effect to that settled position were not erroneous or prejudicial to the Revenue, so revision under section 263 was not available. The refund, interest, and rejection of revision were therefore upheld in favour of the assessees. Case-Laws Income Tax Fri, 07 Jul 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55578