1984 (5) TMI 12

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....Officer passed an assessment order for the assessment year 1970-71 in respect of the present assessee on January 30, 1973. The return had been filed on January 19, 1971, showing an income of Rs. 9,962. In that order, no interest was charged under section 217 of the Income-tax Act, 1961. The income of the assessee was from Shankar Housing Corporation and M/s. Mahavir Singh & Co. and the assessment ....

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....f review. On appeal to the Appellate Assistant Commissioner, the Income-tax Officer's order was upheld, but the Tribunal set aside the same holding that it was not a case covered by section 154. One of the points urged was that there was no mistake in failure to charge interest in the circumstances of the case. This ground was accepted and the Tribunal never actually decided whether there was a....

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....d not be charged under section 217 unless the conditions were satisfied. The assessment year in question was 1970-71 and at that time section 217 was confined to the persons referred to in section 212(3) and no other persons could be charged interest. The Tribunal held that before interest could be charged, it had to be held that section 212(3) was satisfied, i.e., the assessee had to be a person ....