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2023 (2) TMI 808 - GUJARAT HIGH COURTNon-grant of the refund as withheld with interest and additional interest u/s 244A - Compensation sought for non-payment of the statutory interest from the time - HELD THAT:- Considering the fact that both the provisions of Section 244 and 244A will be given effect to what the assessee is presently seeking is the compensation for the delay that has been caused in making the refund. It is not disputed that sub-section (1) of Section 244A requires the revenue to grant interest at the statutory rate if the refund becomes due to the assessee. Department since is not in a position to take shelter of pendency of the appeal, before this Court also, it is not necessary for this Court to give any directions with regard to the applicability of both the provisions and the requirement of the revenue to grant the refund bearing in mind the existing provisions. Compensation which is being sought for non-payment of the statutory interest from the time, this Court decided the appeal. much is insisted upon. Nima Specific Family Trust (2018 (10) TMI 441 - GUJARAT HIGH COURT] had noted various provisions and also the decision of the Gujarat Flourochemicals Ltd. [2015 (2) TMI 453 - GUJARAT HIGH COURT] to hold that there cannot be any direction for payment of interest on interest. The statute provided for interest on delayed refund under sub-section (1) of Section 244A, then newly inserted sub-section (1A) provides for additional interest. There cannot be any further directions for payment of interest over and above such statutory prescriptions and hence it had direction the cost of Rs.1 lac to the petitioner by way of compensation on the amount of interest which remained unpaid for long time. Respondent is not yet clear on the outstanding amount, however, it is volunteered that within three months, it shall be in a position to complete the same noticing the fact that the company has changed its name with all its past and future liabilities. As given e-pan number and it is the same pan number which was with M/s Bombardier Transportation, however, necessary procedure shall need to be completed by the petitioner and name change with supporting documents shall go to the concerned officer-ACIT Income Tax Vadodara both e-copies and physical copies through registered letter within one week from the date of receipt of this order. Let process be completed in a three months’ period, after receipt of such copies. If not done within three months, the amount of compensation to be paid shall be Rs.1 lacs.
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