COMMISSIONER OF INCOME TAX Vs. VISHWAJIT M MEHTA

JUDGEMENT

(1.) AT the instance of the Revenue, the following question has been referred to this Court for its opinion under the provisions of S. 256(1) of the IT Act, 1961 (hereinafter referred to as "the Act"), by the Tribunal, Ahmedabad Bench "A".

(2.) LEARNED advocate, B. B. Naik, has appeared for the applicant, whereas, though served, nobody has appeared for the respondent assessee.

(3.) BEING aggrieved by the order passed by the CIT(A), the Revenue filed an appeal before the Tribunal. The Tribunal ultimately upheld the order of the CIT(A) on an additional ground to the effect that at the relevant time S. 215(3) did not permit increase in the interest. It is pertinent to note that S. 215(3) at the relevant time stood as under :