PRECOT MILLS LIMITED Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) INVOKING article 226 of the Constitution of India, the petitioner herein has come forward with the present writ petition seeking' for a writ of certiorari to call for the records, in Revision Case No. 1411(31)/1986-87/CBE., dated February 3, 1989, on the file of the respondent and to quash the same.

(2.) IN support of the writ petition, the petitioner herein has filed an affidavit wherein they have narrated all the facts and circumstances that forced them to file the present writ petition and requested this court to allow the writ petition as prayed for. Whereas on behalf of the respondent, though no counter affidavit has been filed, they have argued the matter.

(3.) AT this stage, it is relevant to extract Section 214 of the Income-tax Act, 1961, which is dealing with the subject "interest payable by Government" which runs as follows :