COMMISSIONER OF INCOME TAX Vs. MIHIR TEXTILES LIMITED

JUDGEMENT

(1.) FOR the relevant asst. yr. 1977 -78, Tribunal, at the instance of the Department - Revenue, forwarded following question for our opinion under s. 256(1) of the IT Act, 1961 :

(2.) IT appears from the statements of facts that this is a case of claim for interest under s. 214 of the IT Act, 1961. (hereinafter referred to as the IT Act). The assessee had paid an advance tax and a provisional assessment was made on 14th February, 1978, which entitled it to a refund of Rs. 3,692. Subsequently, on 27th September, 1980, an assessment under s. 143(3) came to be made which entitled the assessee to a further refund of Rs. 1,54,407. Again, on 14th December, 1981, ITO granted further refund of Rs. 1,22,422 by a rectification order under s. 154 of the IT Act.

(3.) THE observations of the CIT(A) are pertinent requiring mention at this juncture :