* IN THE HIGH COURT OF DELHI AT NEW DELHI
+ ITA No. 143/2001
Reserved on: 17th July, 2014
% Date of Decision: 25th August, 2014
COMMISSIONER OF INCOME TAX - III ....Appellant Through Mr. Kamal Sawhney, Sr. Standing
Counsel with Mr. Sanjay Kumar,
advocate.
Versus
M/S R.R. HOLDINGS PVT. LTD. ...Respondent Through None.
CORAM:
HON'BLE MR. JUSTICE SANJIV KHANNA
HON'BLE MR. JUSTICE V. KAMESWAR RAO
SANJIV KHANNA, J.
This
appeal by the Revenue under Section 260A of the Income Tax, 1961 (Act, for short) pertains to assessment year 1988-89 and emanates from order dated 22nd February, 2001 passed by the Income Tax Appellate Tribunal (Tribunal, for short) on an appeal filed by the respondent-assessee (hereinafter, referred to as assessee).2. By order dated 18th September, 2002, while admitting the present appeal, the following substantial question of law was framed:- "Whether the Income-tax Appellate Tribunal
was correct in deleting the interest of
Rs.45,92,475/- levied by the Assessing Officer
under section 217(1A) of the Income-tax Act,
1961?"
ITA 143/2001 Page 1 of 17
3. The assessee, a company for the previous year ending 31st December, 1987 had file