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2017 (9) TMI 1971 - AT - Income TaxInterest granted as per Sec. 244A - interest on refund - Whether CIT(A) erred in granting interest upto the date of issuance of refund voucher, i.e. 29.3.2010 whereas as per the assessee, it is entitled to interest upto April, 2010 (i.e. upto the date of receipt of refund voucher on 6.4.2010)? - HELD THAT:- We find that in the case of Pfizer Limited, [1991 (3) TMI 121 - BOMBAY HIGH COURT] has held that assessee is entitled to interest upto the date of receipt of the refund order. Similarly, our coordinate bench in the case of M/s. Novartis India Limited [2011 (3) TMI 1822 - ITAT MUMBAI] has decided a similar issue in favour of the assessee wherein the claim of the assessee for interest was upheld upto the date when the Pay Order is “actually received by the assessee pursuant to the order sanctioning the refund”. Therefore, following the aforesaid precedents, in our view, the assessee is justified in seeking interest u/s 244A of the Act upto the date of receipt of the refund order, i.e. 6.4.2010. Thus, on this aspect, assessee succeeds.
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