The Commissioner of Income-tax, Mangalore / The Asst. Commissioner of Income-tax Circle-1, Udupi v. Syndicate Bank
|The Commissioner of Income-tax, Mangalore / The Asst. Commissioner of Income-tax Circle-1, Udupi
|HIGH COURT OF KARNATAKA
|Date of Order
|substantial question of law • unpaid interest
|Mr.T.Suryanarayana, learned counsel for the assessee. This appeal under Section 260-A of the Income Tax Act, 1961 has been preferred by the revenue. The subject matter of the appeal pertains to the Assessment Year 2006-07. The appeal was admitted by a Bench of this Court vide order dated 19.02.2016 on the following substantial question of law: 3 Whether on the facts and in the circumstances of the case, the Tribunal is right in law in holding that the Revenue is liable to pay interest on the unpaid interest calculated under Section 244A of the I.T. Act when same is contrary to provisions of said section 3. When the matter was taken up today, learned counsel for the assessee submits that the substantial question of law involved in this appeal has been answered by a Bench of this Court in favour of the assessee and against the revenue by judgment dated 07.10.2020 passed in ITA No.582/2013. The aforesaid aspect of the matter could not be disputed by the learned counsel for the revenue. In view of the aforesaid submission and for the reasons assigned by us in the judgment dated 07.10.2020 passed in ITA No.582/2013, the substantial 4 question of law framed in this appeal is answered against the revenue and in favour of the assessee.