TMI Blog2017 (1) TMI 1779X X X X Extracts X X X X X X X X Extracts X X X X ..... interest on refund under section 244A of the Act till the date of issuance of refund voucher on 20th May 2011. The issue being identical in assessment year 2000 01, our aforesaid order will apply mutatis mutandis to the said assessment year and the Assessing Officer is directed to allow refund of interest accordingly. Grounds no.1 and 2 for both the assessment years are allowed. Interest on delayed payment of interest under section 244A - HELD THAT:- As perused the decision of the Hon'ble Supreme Court in Gujarat Fluro Chemicals Ltd. [ 2013 (10) TMI 117 - SUPREME COURT ] we have noted that the Hon'ble Supreme Court after interpreting its own decision of Sandvik Asia Ltd. [ 2006 (1) TMI 55 - SUPREME COURT ] had observed tha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 4. Brief facts are, in the assessment year 1999 2000, assessment was completed making certain additions which resulted in extra tax demand on the issue. On the basis of additions made, the Assessing Officer initiated proceedings for initiation of penalty under section 271(1)(c) of the Act and ultimately passed an order imposing penalty of ₹ 6 crore under section 271(1)(c). The penalty was deleted by the Tribunal, vide order dated 31st December 2010. In consequence to the order of the Tribunal, deleting penalty, refund of ₹ 7,75,68,000 become due to the assessee. The refund was ultimately granted to the assessee vide refund voucher dated 20th May 2011. While granting refund, the Assessing Officer had computed interest under s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s of the parties and perused the material available on record. The short issue before us is, whether the assessee is entitled to receive interest us 244A of the Act till the date of issuance of refund voucher. We find, the Tribunal, Lucknow Bench in assessee s own case cited supra, had decided the issue in favour of the assessee by holding that interest under section 244A of the Act has to be granted till the date of issuance of refund vouchers. The Hon ble High Court has also approved the aforesaid decision of the Tribunal while dismissing the appeal preferred by the Department. In view of the aforesaid, we direct the Assessing Officer to allow interest on refund under section 244A of the Act till the date of issuance of refund voucher on ..... X X X X Extracts X X X X X X X X Extracts X X X X
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