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2013 (9) TMI 686 - HC - Income TaxInterest u/s 244A for delay in refund – Held that:- Reliance has been placed upon the judgment in the case of Commissioner of Income-tax vs. Larsen & Toubro Ltd., [2010 (6) TMI 414 - Bombay High Court], wherein it has been held that Section 244A(2) provides that in the event the proceeding resulting in refund has been delayed for reasons attributable to the assessee, the period of delay so attributable shall be excluded from the period for which the interest is payable - The proceeding resulting in the refund was not delayed for reasons attributable to the assessee. Though the TDS certificates were not submitted with the return and were filed during the course of the assessment proceedings, the Tribunal has noted that the tax was in fact deducted at source at the right time - Since the benefit of TDS has been allowed to the assessee, interest under Section 244A could not be denied only on the ground that the TDS certificates were not furnished with the return of income. Tax was deducted and deposited in the exchequer in time. Section 244A(2) is not attracted – In the light of the above judgment in the case, the issue is decided in favor of Assessee – Decided against the Revenue.
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