1982 (2) TMI 113

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...., 1980 for the asst. yr. 1973-74. 2. We have heard the parties and we are inclined to accept the appeal of the assessee because on similar set of facts, the revenue came before the Chandigarh Bench of the Tribunal in ITA Nos. 1479 & 1480 of 1979 in the case of Shri Paul Oswal and the Tribunal allowed the appeal of the revenue on the ground that allowance of interest u/s 214 with regard to the in....

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....t paid as required u/ss 207 to 213 of the IT Act, 1961, the interest allowed to the assessee u/s 214 required to be withdrawn. He accordingly made an order with drawing this interest. However, he allowed by this order refund to the assessee of Rs. 65 u/s 244(1A). The net result was that a demand of Rs. 1,952 was created against the assessee. This was upheld by the AAC. 4. From the above facts, i....