ANTONY DOMINIC, J.
The appellant in I.T.A.No.2 of 2008 is the review petitioner. The appeal was disposed of by this Court by judgment dated 22nd March, 2011. One of the issues dealt with was in relation to disallowance of excess interest tax collected by the assessee. The assessing officer held that excess collection of interest tax forms part of the income of the assessee and assessed the same on that basis. This was confirmed by the Appellate Commissioner, the Tribunal and also this Court.
2. However it is pointed out by the review petitioner that long before the appeal was disposed by this Court by judgment dated 22/3/2011, the excess amount collected by the petitioner was remitted to the fund created by the Government consequent on the Supreme Court judgment in Indian Banks Association and others Vs. Devkala Consultancy Services and others [267 I.T.R. 179] on 19/5/2010. Therefore, according to him, the order R.P.No.592 of 2011 in I.T.A.No.2 of 2008 2 passed by this Court on the assumption that the amount is still retained by the petitioner is factually erroneous.
3. However on facts what we notice is that the assessment year in relation to the income tax appeal is 1996-97. Even according to the petitioner, the amount was remitted by them to the fund only on 19/5/2010, which falls in the assessment year 2011- 2012. Therefore even if it is assumed that such remittance was made, that cannot have any impact on the assessment year 1996-97.
4. We therefore do not find any reason to hold that the conclusions of this Court are erroneous for the reason that the remittance of the amount was not brought to the notice of this Court or that this Court proceeded on the assumption the amount was still retained by the petitioner.
The Review Petition is dismissed.
ANTONY DOMINIC, JUDGE ANIL K.NARENDRAN, JUDGE skj