2016 (4) TMI 390

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..... Balaram Das,Adv. For The Respondent : Mr. Ajay Vora, Sr. Adv., Ms. Kavita Jha, Adv., Mr. Bhargava V. Desai,Adv., Ms. Saumya Mehrotra, Adv., Mr. Prakash Kumar, Adv., Ms. Bhavita, Adv. ORDER For the sake of convenience, we take note of the facts in respect of Assessment Year 1987-88 as similar factual situation appears in respect of all three Assessment Years viz. 1985-86, 1986-87 and 198....

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....jected by the Assessing Officer. However, the Commissioner of Income Tax (Appeals) allowed 2 the appeal of the assessee against the order of the Assessing Officer by invoking the provisions of Section 244(1A) of the Income Tax Act and held that the interest is payable on the aforesaid amount. This order is upheld by the Income Tax Appellate Tribunal as well as by the High Court. We have gone th....