TaxTMI 
TaxTMI 
1990 (2) TMI 108
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....ssessee: "1. That on the facts and in the circumstances of the case, the learned CIT(A) has erred in law in holding that for the asst. yr. 1972-73 for which the appellant obtained a refund of advance tax of Rs. 1,60,446 in pursuance of the fresh assessment dt. 31st March, 1982, made by the ITO, after the original assessment order dt. 15th June, 1973, was set aside on appeal, the appellant was en....
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.... so far as the second ground of appeal is concerned, the CIT(A) was not justified in restricting the interest under s. 214 to the date of initial assessment and not upto the date of actual grant of refund. He pointed out that in the ratio of the judgment of the Delhi High Court in the case of NATIONAL AGRICULTURAL CO-OPERTIVE MARKETING FEDERATION OF INDIA LTD. vs. UNION OF INDIA & ORS. itself, the....
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....terpretation of the Madras High Court will be the only practical and plausible interpretation of s. 214(2)." He also referred to the judgment of the Hon'ble Madras High Court in the case of RAYON TRADERS PVT. LTD vs. ITO (1980) 19 CTR (Mad) 204 : (1980) 126 ITR 135 (Mad) where the Hon'ble High Court has held that s. 214(1) would apply to cases where the refund is simultaneous with the regular as....
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....c ground was raised before the CIT(A), the assessee was entitled to interest on refund upto the actual date of refund of the amount. 3. The learned Departmental Representative on the other hand has supported the order of the CIT(A) and contended that the issue was squarely covered against the assessee and in favour of the Revenue by the above judgment of the Delhi High Court which is binding on ....