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2012 (9) TMI 725 - AT - Income TaxDenial of interest u/s. 244A - no interest on the refund of self assessment tax - rectification application u/s. 154 withdrawing interest granted u/s 244A - Held that:- As decided in CIT vs. Ashok Leyland Ltd. [2001 (10) TMI 71 - MADRAS HIGH COURT] it is trite of law that wherever the assessee is entitled to refund, there is a statutory liability on the Revenue to pay interest on general principles on general principles on sums wrongfully retained. As decided in CIT vs. Gujarat State Warehousing Corporation [2001 (8) TMI 24 - GUJARAT HIGH COURT] assessee is entitled to interest u/s. 244A (1A) payment of tax made u/s. 140A and as in the present case undisputedly, the refund is on account of self assessment tax made u/s. 140A ssessee is entitled to interest u/s. 244A - in favour of assessee.
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