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2019 (5) TMI 753 - HC - Income TaxInterest u/s 244A - interest on interest, where there is no inordinate delay in payment of refund - HELD THAT:- The view of Hon'ble Supreme Court in Sandvik Asia Ltd. [2006 (1) TMI 55 - SUPREME COURT] has since been reversed by later decision in the case of CIT Vs. Gujarat Fluoro Chemicals [2013 (10) TMI 117 - SUPREME COURT] in which, taking note of the said decision of Sandvik Asia Ltd., as well as the later amendment of law with effect from 01.04.1989 by insertion of Section 244A of the Act, the Hon'ble Supreme Court has clarified that it is only the interest provided for under Section 244A of the Act, which may be claimed by the Assessee on the refunds, and no other interest can be claimed by the Assessee. We remit the matter back to the learned Tribunal to decide the Appeal again in accordance with law, in view of the later decision of the Hon'ble Supreme Court and the amendment of law.
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