1993 (5) TMI 9

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....-tax Act, 1961, for the assessment year 1981-82, the following question of law has been referred : "Whether, on the facts and in the circumstances of the case, the Tribunal was justified in upholding the order of the Commissioner of Income-tax (Appeals) directing the Inspecting Assistant Commissioner to accept the rectification petition of the assessee and to allow the assessee interest under s....

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.... the appellate order. The Assessing Officer rejected the said petition under section 154 of the Income-tax Act, 1961, filed by the assessee holding that interest under section 214 ibid was correctly granted to the assessee on the amount by which the aggregate of advance tax paid exceeded the tax determined on regular assessment made under section 143(3) of the Act and, as such, there was no mistak....

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....low interest under section 214 in accordance with the principles laid down in the case of Chloride India Ltd. [1977] 106 ITR 38 (Cal). Contrary to the decision of the Calcutta High Court in the said Chloride India Ltd.'s case [1977] 106 ITR 38, and also of the Rajasthan and Gujarat High Court, some High Courts, viz., the Allahabad, Kerala, Punjab and Haryana, Andhra Pradesh and Bombay [FB] High....

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....ndhra Pradesh High Courts have taken contrary views that the interest is payable only up to the date of the original assessment. The question is whether there is any divergence of judicial opinion or not. Our attention has not been drawn to the divergence of judicial opinion on the question as to the interpretation and scope of the words "original assessment". The Tribunal fell in error in directi....