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2015 (9) TMI 500
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....the Respondent : R. S. Agrawal ORDER We have heard Sri Shubham Agrawal, learned counsel for the Income Tax Department and Sri R.S. Agarwal, learned counsel for the assessee. For the Assessment year 1989-90 the Assessment Order was passed on 26.3.1992 and a notice of demand was issued. The assessee moved an application under Section 154 of the Income Tax Act (hereinafter referred to as the....
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....ged from the date of the original Assessment Order dated 26.3.1992. The applicant being aggrieved by this part of the order charging interest from 1992 filed an appeal which was dismissed and, thereafter, preferred a Second Appeal before the Tribunal which was allowed. The Department being aggrieved by the order of the Tribunal has filed the present appeal under Section 260(A) of the Income Tax....
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.... satisfied and the amount was refunded pursuant to the first rectification order passed under Section 154 on 15.9.1994. In similar circumstances, the Supreme Court in the case of Vikrant Tyres Limited (supra) the Supreme Court held that where the original demand was satisfied and the amount was paid by the assessee interest could not be payable from the original date of demand if levied subsequent....