COMMISSIONER OF INCOME-TAX Vs. ARIDHAMAN JAIN

JUDGEMENT

(1.) THIS is a petition under Section 256 of the Income-tax Act, 1961, for directing the Income-tax Appellate Tribunal to refer the following question of law to this court:

(2.) BY placing reliance on CIT v. Mahesh Munjal (HUF) [1996] 222 ITR 87 (P&h) Shri R. P. Sawhney submitted that the question framed by the petitioner should be referred to the High Court. On the other hand, Shri Mittal invited our attention to the orders passed by the Tribunal in the appeal filed by the assessee and the application filed by the Revenue under Section 256 (1) of the Income-tax Act, 1961, and argued that after having adjusted the amount recovered from the petitioner during the raid towards the advance tax payable by the petitioner, the assessing authority could not charge interest from the petitioner by invoking Section 215 of the Act.

(3.) LEARNED counsel for the Revenue could not convince us that the findings recorded by the Tribunal suffer from any error of law.