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The Allahabad High Court in the case of CIT v. Sir Shadi Lal Enterprises Ltd. (108Tax543) reemphasized the settled law that the assessment merges in the appellate order and, therefore, after the decision of appeal, it is the assessment as made by the appellate authority that would become the regular assessment. In this case the Court rejected the departmental reference on the issue of cancellation of interest charged by the assessing officer u/s 220(2) on the amount refunded on provisional assessment, which after the appellate proceedings resulted in determination of the income that was even less than the income determined u/s 141A meaning thereby that a further refund has been granted after the assessment became final.

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