Court : Income Tax Appellate Tribunal ITAT Ahmedabad
Decided on : Nov-10-2006
Reported in : (2008)111ITD320(Ahd.)
..... in consequence of such an order passed by the court. that was done under section 240 of the act. it cannot be disputed that income-tax, penalty and interest collected became refundable to the assessee. whenever refund of any amount becomes due to the assessee and it ..... upheld the order of the tribunal by observing as under: it is common ground that the amount collected by the revenue included also interest levied and collected under section 220 of the act. the amounts became refundable to the assessee as a result of the order passed by the supreme court. the refund of the amounts was made to the assessee ..... is in the case of cit v. ambat echukutty menon) 173 itr 581 (ker). in this case for assessment years 1961-62 toi 1963- 64 interest under section 220 of the act was levied and collected from the assessee as he failed to comply with the notices issued in pursuance of the decision of the supreme court, the amounts become .....
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