COMMISSIONER OF INCOME TAX Vs. ZORAVAR VANASPATI LTD.

JUDGEMENT

(1.) "While admitting this appeal, the following substantial question of law was framed by virtue of this Court's order dt. 16th "Whether the Tribunal was in the instant case justified in deleting interest under ss. 234A and 234B of the IT Act, 1961 even when ITNS 150 accompanying the assessment order computed the liability towards interest under the said Act - Having heard the counsel for the parties at length, we find that this question actually does not arise for consideration in as under :

(2.) The learned counsel for the Revenue has not filed a copy of the grounds of appeal taken before the Tribunal. However, Mr. Prakash Kumar, who appears on behalf of the respondent/assessee, states that against the order of the being IT Appeal No. 1863/Del/2001 wherein the question of levy of interest on the ground that it has not been mentioned in the assessment order is in issue. The plea taken is that since the charging of interest is not specifically mentioned in the assessment order, though it is mentioned in the ITNS 150, no interest could be charged from the assessee. That issue is yet to be decided by the Tribunal in the assessee's appeal. The question raised by the Revenue before the Tribunal was not with regard to the levy of interest per se, but the question as to whether interest could be levied on the basis of returned income or assessed income ? That issue was, of course, not decided by the Tribunal. For these reasons, we feel that the appropriate course to follow would be to set aside the impugned order and to remand the matter to the Tribunal so that the Revenue's appeal is heard along with the assessee's said appeal No. 1863/Del/2001. It is ordered accordingly.

(3.) We note that, as per the learned counsel for the assessee, the ground taken by the Revenue before the Tribunal is not properly worded. We permit the Revenue to amend the grounds before the Tribunal so that the Tribunal is in a position to return a definitive finding on the issue raised by the Revenue as well as the issue raised by the assessee. The appeal stands disposed of.