2008 (11) TMI 65

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... Both these appeals have been filed by the Revenue against the common order of the learned Tribunal dated 20.7.2007, and therefore, are being decided by this common order. 2. It is contended that the learned Tribunal was in error in holding that interest under Section 220(2) can be awarded only from the due date of demand notice issued for the reframed assessment order on the amount finally ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....efore the Tribunal was, as to whether the interest on this amount of Rs.35,63,120/- is required to be computed from the date, the amount became due pursuant to the original assessment order dated 28.5.1998, or from the date when it became due pursuant to the fresh assessment order passed after remand. The learned Tribunal found relying upon the Circular No.334 dated 3.4.1982 that the matter is cov....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....the assessment is reframed, interest can be charged only after the expiry of 35 days from the date of service of demand notice pursuant to such fresh assessment order. (ii) where the assessment made originally by the Income-tax Officer is either varied or even set aside by one appellate authority but, on further appeal, the original order of the Income-tax Officer is restored either in part or ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....hether dated 31.3.2005, or the earlier one, whether wholly or in part, rather undisputedly that order of the Tribunal became final, and it was only in compliance of the order of the Tribunal, that fresh assessment order was passed. In our view, in that event, the matter is squarely covered by the later part of sub-para (i), which comprehends a situation, where even when the assessment is reframed ....