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2003 (2) TMI 23 - HC - Income TaxPresent petition has been filed by the petitioner-Punjab State Warehousing Corporation for quashing the orders passed by the CIT and the Income-tax Officer, declining to allow interest on the amount retained by the respondents as advance tax on various dates during the accounting period relevant to the assessment year 1973-74 till the date of its refund on December 20, 1978 - petitioner, in the circumstances, is not entitled to claim interest on delayed refunds in terms of section 243(1)(a) or (b). To claim interest in terms of section 243(1) it is to be shown that the total income of the assessee does not consist solely of income from securities and dividends and in any other case within three months from the end of the month in which the claim for refund is made under Chapter XIX. The claim of the petitioner for interest on the refund before the Commissioner was in terms of section 214 of the Act which was declined in terms of the impugned order - there is no merit in this petition and the same is dismissed
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