TaxTMI 
TaxTMI 
2000 (2) TMI 841
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....al has referred the following question of law arising out of its order dt. 23rd July, 1997 for the asst. yrs. 1977-78. "Whether, on the facts and in the circumstances of the case, the Tribunal is right in holding that self-assessment tax paid by the assessee gets adjusted against the assessed tax and thus partakes of the character of tax paid in pursuance of the assessment order, and in tha....
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....im of the assessee towards payment of interest under s. 244(1A), was negatived by the AO. In the first appeal also, the CIT(A) held that interest under s. 244(1A) becomes due to an assessee only on any amount paid by him in pursuance of any order of assessment or penalty. He concluded that in the instant case, no payment had been made by the assessee in pursuance of any order of assessment or pen....
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.... given in the case of Modi Industries Ltd. vs. CIT (1995) 128 CTR (SC) 361: (1995) 216 ITR 759(SC) : TC 43R.422. That decision has taken into consideration various provisions by which the interest is payable. Interest under s. 244(1A) is payable even when the tax or penalty paid by the assessee pursuant to the order of assessment is reduced in appeal. It was observed that after computation of the ....
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....ated any more in the Act as a portion of the advance tax paid by the assessee. What is refunded pursuant to an appellate order is a portion of what was treated and dealt with as payment of income-tax by the assessee. Its character is in noway different from the tax paid pursuant to notice of demand under s. 156 by an assessee. Any tax refundable pursuant to the appellate order has to be dealt with....