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2016 (1) TMI 754 - AT - Income TaxGrant of interest u/s 244A - refund due to the assessee company on account of Tax deducted at source(TDS) being excess of the tax payable by the assessee company on income computed as per the Income Tax Act,1961 against which the TDS certificates were not filed by the assessee company - Held that:- Hon'ble Bombay High Court in the case of Larsen & Toubro Ltd. (2010 (6) TMI 414 - Bombay High Court ) has categorically held that the assesse is entitled to interest on TDS due to the assessee even if the TDS certificates have been filed late if the tax was deducted and deposited with the exchequer in time, the interest has to be granted to the assessee from 1st day of assessment year in accordance with Section 244A of the Act and not from the date of filing of TDS certificates with the Revenue. The facts in the instant appeal before us are identical to the facts before Hon'ble Bombay High Court in the case of Larsen and Toubro Limited(supra) and the Revenue has not contradicted the same before us. Respectfully following the same, we reject the contentions of the Revenue and dismiss this appeal by directing the AO to grant interest on refund due to the assessee company on account of excess TDS claim wef 01- 04-2004 and not from the date of submissions of TDS certificates by the assessee company - Decided in favour of assessee.
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