1979 (12) TMI 57

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.... the period for which interest was payable under the proviso to s. 66(7) of the Indian I.T. Act, 1922. In respect of the assessments for the assessment years 1946-47 to 1948-49, and for the assessment year 1950-51, there were references to this court. By virtue of the answers given by this court, the petitioner was entitled to a refund of the amounts of tax paid by him. He made applications to ....

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.... in respect of the arrears due for some subsequent years. Therefore, the Commissioner said that interest would be allowed only up to the dates of such adjustment. The Commissioner directed that interest was to be paid at 6% per annum. It is contended for the petitioner that the direction made by the Commissioner that interest was payable only from July 30, 1970, and September 3, 1971, is untena....

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....hich reduces the assessment only indicates that there is an overpayment where payment of the assessed tax has already been made. It does not mean that the overpayment is only from the date of such order of the appellate authority of the High Court. The proviso also indicates that the Commissioner is given a discretion in the matter of fixing up the rate of interest. He cannot curtail the period fo....