Indian Oil Corpn. Ltd. Vs. the Asst. Commr. (Assmt.)i,ekm. - Court Judgment

Excerpt:
[n.ananda j.] this cri.a is filed under section 374(2) cr.p.c against the judgment dated 18.11.2004 passed by the sessions judge. ftc-i. davanagere in s.c.no.57/2002 convicting the appellant-accused for the offences punishable under sections 506 and 306 ipc and sentencing him to undergo r.i. for three years and pay fine of 5.000/-. in default to undergo s.i. for one month and further sentencing him to undergo r.i. for 3 years and pay fine of 10.000/- in default to undergo s.i. for two months for an offence punishable under section 306 ipc.c .n. ramachandran nair, &bhabani prasad ray, jj.o.p. no. 9438 & 7074 of 1999, 10777 of 1995 & 23379/2001dated this the 8th day of november, 20101. the issue raised that is interest payable under section 23(3) is covered by judgment in the case of very same company in o.p.no. 7483 of 1999 and connected cases. following the said judgment, we dispose of these ops. directing the assessing officer to recompute the liability for interest in accordance with the above judgment and by giving credit for the payments on the date on which such payments were made. a notice containing the details of proposal for levy of interest should be communicated to the petitioners with reference to the statutory provisions and judgment above referred and after giving credit for the payments made, interest should be recomputed afresh after giving opportunity to the petitioners to file objections with details of remittances. in addition to credit being given to payments made, excess payments, if any, available for refund from earlier years should also be adjusted against the demand and interest should be demanded only for the net amount.

Judgment:
C .N. RAMACHANDRAN NAIR, &

BHABANI PRASAD RAY, JJ.

O.P. No. 9438 & 7074 of 1999, 10777 of 1995 & 23379/2001

Dated this the 8th day of November, 2010

1. The issue raised that is interest payable under Section 23(3) is covered by judgment in the case of very same company in O.P.No. 7483 of 1999 and connected cases. Following the said judgment, we dispose of these OPs. directing the assessing officer to recompute the liability for interest in accordance with the above judgment and by giving credit for the payments on the date on which such payments were made. A notice containing the details of proposal for levy of interest should be communicated to the petitioners with reference to the statutory provisions and judgment above referred and after giving credit for the payments made, interest should be recomputed afresh after giving opportunity to the petitioners to file objections with details of remittances. In addition to credit being given to payments made, excess payments, if any, available for refund from earlier years should also be adjusted against the demand and interest should be demanded only for the net amount.