1997 (8) TMI 67

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....t controversy arising for decision, we have heard the parties finally. Rule DB. The Deputy Commissioner of Income-tax, Range IV, passed an order of assessment against the petitioner raising a demand of Rs. 9,53,42,953 on account of income-tax and Rs. 6,81,64,603 on account of interest making a total of Rs. 16,35,07,556. The petitioner has filed an appeal against the order of assessment. The ....

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....two are worth being noticed : firstly, that an amount of Rs. 78,47,380 has been deducted by way of tax at source, credit whereof has not been allowed to the petitioner while passing the impugned orders though the attention of the authorities was specifically invited to it; secondly, that the Central Board of Direct Taxes has issued circulars, the directions contained wherein have not been kept in ....

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....amount of tax deducted at source was not allowed. In the facts and circumstances of the case, we are of the opinion that the ends of justice would be satisfied if the respondents are directed to dispose of the petitioner's application under section 220(6) of the Act afresh. For the foregoing reasons, the petition is partly allowed. Respondent No. 2, who is the Assessing Officer, shall aff....