TMI Blog2013 (10) TMI 117X X X X Extracts X X X X X X X X Extracts X X X X ..... ax OF TDS paid exceeds the assessed tax? - Correctness or otherwise of the decision of this Court in the case of Sandvik Asia Limited vs. Commissioner of Income Tax & Ors. [2006 (1) TMI 55 - SUPREME Court] - Held that:- it is only that interest provided for under the statute which may be claimed by an assessee from the Revenue and no other interest on such statutory interest. - Special Leave Pet ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Tax OF TDS paid exceeds the assessed tax?" 2. In the aforesaid order of reference, this Court has briefly noticed the facts and the discussion in Sandvik case (supra) wherein, the main issue for consideration and determination by this Court was, whether the assessee is entitled to be compensated by the Revenue for delay in payment of the amount admittedly due to the assessee. This Court has not ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Court in the facts of the said case had noticed that there was delay of various periods, ranging from 12 to 17 years, in such payment by the Revenue. This Court had further referred to the several decisions which were brought to its notice and also referred to the relevant provisions of the Act which provide for refunds to be made by the Revenue when a superior forum directs refund of certain amo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... They are of the view that in Sandvik case (supra) this Court had directed the Revenue to pay interest on the statutory interest in case of delay in the payment. In other words, the interpretation placed is that the Revenue is obliged to pay an interest on interest in the event of its failure to refund the interest payable within the statutory period. 7. As we have already noticed, in Sandvik cas ..... X X X X Extracts X X X X X X X X Extracts X X X X
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