COMMISSIONER OF INCOME TAX Vs. SYNBIOTICS LTD

JUDGEMENT

(1.) IN this reference at the instance of the Revenue, the following question of law has been referred for our opinion for the asst. yr. 1974-75 : "Whether, the Tribunal is right in law and on facts in deleting the interest charged under s. 216 of the IT Act amounting to Rs. 11,940?"

(2.) WE have heard Mr. M.R. Bhatt, learned Standing Counsel for the Revenue, and Mr. R.K. Patel, learned counsel for the respondent-assessee.

(3.) ON the other hand Mr. R.K. Patel, learned counsel for the respondent-assessee, has submitted that in the above case the matter was remanded to the AO as he had not given any reasons for levying interest under S. 216 of the Act but in the instant case, the CIT(A) has given detailed reasons for setting aside levy of interest under S. 216 and, therefore, there is no need for remanding the matter to the AO.