2014 (12) TMI 475

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....averi: 1. By way of this appeal, the Revenue has challenged the order dated 13.06.2001 passed by the Income Tax Appellate Tribunal, Rajkot (for short "the ITAT"). 2. While admitting this appeal, the Court had formulated the following substantial question of law:     "Whether, the Appellate Tribunal is right in law and on facts in deleting the charging of interest under Sect....

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....;      27. In the instant case, having been fortified in respect of its claim for deduction in regard to the export markets development allowance by the decisions of the Income tax Appellate Tribunal, the petitioner could not have anticipated or foreseen that its estimate of the current income would not be accepted and that the advance tax paid would be less than the asses....

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.... do not think it is necessary to undertake such an exercise. We have found earlier that, on the facts and in the circumstances of the case, it is impossible to hold that the waiver of interest is not justified. To remit the matter to the Commissioner under such circumstances would be only protracting the proceedings by asking the Commissioner to grant the relief which we can ourselves grant to the....