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2005 (12) TMI 452 - AT - Income TaxRefunds - Interest u/s 244A on excess payment of self-assessment tax u/s 140A - HELD THAT:- In the present case the assessee had claimed the interest on excess payment of self-assessment tax u/s 140A of the Act. In accordance with the provisions of clause (b) to section 244A(1) of the Act, interest is payable on such payments of tax. We do not agree with the contention of the Assessing Officer with regard to the applicability of provisions of Explanation to clause (b) to section 244A(1) of the Act. The provisions of the statute are to be given its full effect and in the instant case once the return has been processed u/s 143(1)(a) and refund is determined as payable to the assessee. The provisions of the Act clearly provide that in addition the interest is payable on such sums which are held and utilized by the Government over and above the tax dues of the assessee under the provisions of Income-tax Act. Accordingly in addition to the refund of the money the assessee was entitled to receive interest on the said excess amount paid by him. We find support from the decision of the Calcutta Bench in the case of Hooghly Mills Co. Ltd. v. Dy. CIT [1999 (9) TMI 116 - ITAT CALCUTTA-A]. Thus, we hold that the assessee is entitled to the interest under section 244A of the Act on the excess self-assessment tax paid u/s 140A of the Act by it. We accordingly, confirm the order of the learned CIT(A) and reject the ground of appeal raised by the revenue. In the result, the appeal of the revenue is dismissed.
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