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TMI Blog2013 (10) TMI 700X X X X Extracts X X X X X X X X Extracts X X X X ..... ed by both the parties for assessment year 2006-07. The facts relating to the case are stated in brief. The assessee is a public sector bank. The assessment in the hands of the assessee for the assessment year 2006-07 was completed by the Assessing Officer by making various additions. The assessee challenged all the additions before the Ld. CIT(A) but could get only partial relief. Hence, the assessee has filed the appeal challenging the decision of the Ld. CIT(A) in sustaining the disallowance made u/s. 14A of the Act. The Revenue has filed appeal challenging the decision of the Ld. CIT(A) in deleting the disallowance of contribution made to Retired Employees Medical Benefit Scheme. 3. The assessee has urged two grounds viz., one challeng ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y opportunity of being heard to the assessee. 5. In the appeal filed by the revenue, the only issue contested relates to the deletion of disallowance of contribution made to retired Employees Medical Benefit Scheme, which was disallowed u/s. 40A(9) of the Act. The Ld. AR pointed out that this is a recurring issue and the Tribunal has already decided the issue in favour of the assessee for the assessment year 2002-03 in I.T.A. No. 861/Coch/2005 vide its order dated 08-08-2007. He further submitted that the Tribunal has followed its decision in the subsequent year also, i.e., in assessment year 2005-06 in I.T.A. No. 114/Coch/2012. He submitted that the Ld. CIT(A) has followed the decision rendered by the ITAT while deleting the disallowance. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... arat Fluoro Chemicals in SLP(C) No. 11406 of 2008 has held as under: "6. In our considered view, the aforesaid judgment has been misquoted and misinterpreted by the assessees and also by the Revenue. 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 case (supra) this Court was considering the issue whether an assessee who is made to wait for refund of interest for decades be compensated for the gre ..... X X X X Extracts X X X X X X X X Extracts X X X X
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