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2014 (4) TMI 1013 - HC - Income TaxEligibility for interest on refund out of MAT credit - Whether the assessee would be entitled to interest on the refund as per Section 244A of the Act – Held that:- The assessee became entitled to refund consequent upon the deduction given on MAT credit and the TDS - the assessee is entitled to a refund of ₹ 49,67,917/- and the deduction on TDS itself was before granting or charging any interest under any provisions of the Act - the proper course would be to remand the matter back to the AO to work out interest on the refund payable to the assessee on the sum of ₹ 49,67,917/- as ordered in the order of the Assistant Commissioner dated 28.02.2005 in accordance with Section 244A of the Act – matter remitted back to the AO - Decided against Revenue.
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