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2016 (9) TMI 1073 - AT - Income TaxGrant the interest u/s 244A - Withhold amount of refund beyond the date of issuance of intimation/order u/s 143(1) - Held that:- We find that there was no proper justification on the part of the revenue to Rajashekhar 8 Swaminathan withhold the amount of refund beyond the date of issuance of intimation/order u/s 143(1). We can appreciate that upto the date of passing order/intimation u/s 143(1), no interest shall be payable by the department to the assessee because of clear provisions of law on the statute in this regard, but for the period of delay in issuing the refund after the date of passing of the order u/s 143(1), the assessee is entitled for interest and revenue is liable to pay it to the assessee. Thus, we direct the AO to grant the interest u/s 244A for the period falling between the date of passing of order u/s 143(1) and actual date of granting of refund, at the rate of interest as would have been applicable if the refund amount would have been for an amount more than 10% of the gross tax. - Decided in favour of assessee
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