2020 (12) TMI 733

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....LLANTS (BY SRI. K.V. ARAVIND, ADV.)   RESPONDENT (BY SRI. T. SURYANARAYANA, ADV.) JUDGMENT ALOK ARADHE J., Mr. K.V. Aravind, learned counsel for the revenue. Mr. T. Suryanarayana, learned counsel for the assessee. 2. This appeal under Section 260-A of the Income Tax Act, 1961 (hereinafter referred to as 'the Act', for short) has been preferred by the revenue. The subject matter....

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.... return for the Assessment Year 2007 08. The Assessing Officer concluded the assessment under Section 143(3) of the Act and assessed the taxable income at Rs. 1772,81,78,854/- as against Rs. 593,48,70,178/- declared by the assessee. The order passed by the Assessing Officer was subject matter of the proceeding under Section 263 of the Act before the Commissioner of Income Tax (Appeals), who by an ....

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....the stay of recovery. The Assessing Officer also granted refund of interest under Section 244A of the Act which according to the assessee was not properly calculated. Being aggrieved, the assessee filed an appeal. The Commissioner of Income Tax (Appeals), by an order dated 25.11.2013, inter alia held that interest under Section 234C of the Act could not have been levied. It was further held tha....

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....is appeal has been filed.   4. At the outset, learned counsel for the revenue submitted that he does not intend to press the first substantial question of law. Learned counsel for the assessee submitted that the Tribunal grossly erred in holding that the interest under Section 220(2) of the Act is not chargeable during the period of stay as the same is against the provisions of the Act and....