Law:

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I. Section 154 of the Income-tax Act 1961 - Rectification of mistakes - Apparent from records - Assessment year 1993-94 Question whether after issue of certificate by designated authority under section 90 of Finance (No. 2) Act, 1998, KVSS, assessing authority had power to raise fresh demand of interest under section 234B, is debatable issue where two opinions are possible and, therefore, it cannot be said that non-charging of interest in such a case is a mistake apparent on face of record [In favour of assessee] The question whether after the issue of the certificate by the designated authority under section 90 of the Finance (No. 2) Act, 1998, KVSS the assessing authority had power to raise fresh demand of interest under section 234B, is debatable issue where two opinions are possible and therefore, it cannot be said that non-charging of interest in such a case is a mistake apparent on the face of the record. II. Section 234A/234B of the Income-tax Act 1961 - Interest - Chargeable as - Assessment year 1993-94 After issue of certificate by designated authority under section 90 of Finance Act (KVSS), Assessing Officer cannot raise a demand of interest under section 234B [In favour of assessee] After the issue of the certificate in the Kar Vivad Samadhan Scheme under section 90 of the Finance Act the assessing authority has no authority to sit over the certificate issued by the designated authority. Thus, after the issue of certificate by designated authority under section 90 of Finance Act (KVSS), the Assessing Officer cannot raise a demand of interest under section 234B. CASE REFERRED TO T.S. Balaram, ITO v. Volkart Brothers [1971] 82 ITR 50 (SC) (para 9) A.N. Mahajan and Ashish Bansal for the Respondent JUDGMENT Rajes Kumar, J. - This is an appeal under section 260A of the Income-tax Act, 1961 (hereinafter referred to as "the Act") filed by the Commissioner of Income-tax, Kanpur, against the order of the Tribunal dated February 25, 2005, for the assessment year 1993-94. 2. The brief facts of the case are that the assessee is a partnership firm and was carrying on lottery business. There was a search and seizure operation on October 17, 1994, the assessee…

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