1998 (7) TMI 78

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....his is a petition by an assessee seeking direction to respondent No. 5 to release payment of interest to the petitioner under section 244(1A) of the Income-tax Act, 1961. The facts relevant may briefly be noticed. An amount of Rs. 7,235 was deducted as TDS from the assessee. The assessee filed a return and an order of assessment was made on February 22, 1983. There was an appeal wherein by orde....

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....r. The issue arising for decision is no more res integra and stands concluded by the law laid down by the Supreme Court in Modi Industries Ltd. v. CIT [1995] 216 ITR 759. At page 780, their Lordships have approved the view taken by the Punjab and Haryana High Court in the case of CIT v. Leader Engineering Works [1989] 178 ITR 529, holding that the advance tax paid lost its identity, the moment ....

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....that in such a case a fresh assessment may be treated as 'regular assessment' is misconceived and is not in consonance with the scheme of the Act and the language of various sections dealing with regular assessment." It is, therefore, clear that with the passing of the order of assessment dated February 22, 1983, without regard to the fact that the assessment order was set aside by the Assistan....