- (1.) HEARD learned counsel for the parties.
(2.) WE are not going into the details of facts, in view of the reason that the question of law involved in this Tax Appeal requires no detailed consideration of facts because of the reason that the facts are not in dispute, which are relevant for the purpose of deciding this appeal. The respondentassessee submitted his selfassessed returns of income, quantifying at Rs.1,44,74,480/. Assessee's income was assessed Rs.1,45,40,721/ under section 143(3) of the Income Tax Act, 1961. On 29th September,1976, this returns was subjected to proceeding under section 148 and ex parte order was passed on 29.3.1982 which was vacated on 8.7.1982 and the case was reopened under section 146. Then the assessee submitted another returns of income of Rs.1,96,91,399/ on 12th January, 1984. After several rounds of appeals etc., ultimately the tax liability of the assessee was determined by the appellate order dated 24th March, 1992. The issue involved in this Tax Appeal is only whether the assessee, who himself submitted revised returns of selfassessment of his income under section 140A of the Act of 1961, was liable to pay interest from the date of his filing revised returns, i.e., from 12 th January, 1984, or was liable to pay interest when his tax liability was finally determined by the appellate order dated 24th March, 1992. The facts are not in dispute and assessment, appellate and remand orders are not relevant; therefore, we are not going to refer the various orders passed at various stages in this very proceeding.
(3.) THIS appeal was admitted on the basis of following questions of law: "(A) Whether on the facts and in the circumstances of the case, the ITAT was justified in holding that the original demands had got completely wiped off during the intervening period firstly by way of appellate order dated 29.1.1985 by the Commissioner of Income Tax (Appeals) and secondly by way of setting aside the further orders passed consequent thereto from time to time and no demand was pending during the period from 1.1.1985 to 24.3.1992? (B) Whether on the facts and in the circumstances of the case, the ITAT was justified in holding that interest under section 220(2) could not have been charged upto 24.3.1992 when liability to pay balance self assessment tax arose on 12.1.1984, the date on which the Assessee filed revised return of income showing total income of Rs.1,96,91,399/(which is equal to the income assessed in the final order passed by the Assessing Officer on 24.3.1992 in pursuance of the order of the ITAT) and did not pay selfassessment tax on the difference of income between revised return of income and original return of income? (C) Whether the income tax Department should not be compensated by way of realising interest under section 220(2) for delayed payment of legitimate Government dues which always remained quantified to the extent of Assessee's liability to pay balance self assessment tax in pursuance of revised return by him on 12.1.1984" Though three questions of law have been framed, in our opinion, they, in fact, only constitute one question, which we have already referred above and it will answer all three questions.;