TMI Blog2007 (2) TMI 130X X X X Extracts X X X X X X X X Extracts X X X X ..... ated:- 26-2-2007 - JUDGMENT The judgment of the court was delivered by P.D. DINAKARAN, J.- The above tax case appeal is directed against the orderof the Income-tax Appellate Tribunal in ITA No.1733/Mds/1995 dated 22.7.2003, raising the following substantialquestion of law. "Whether in the facts and circumstances of the case, the Tribunal was right in holding that tax paid unde ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the advance tax, tax under section 140A and interest under sections 216 139(8) of the Act, refund was determined. The assessment again rectified and interest under section 244 of the Act payable to the assessee on the amount of refund was determined. 4. Contending that the computation of interest by the Assessing Officer was not correct, the assessee filed an appeal before the C ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... interest was not correct, the Commissioner of Income-tax (Appeals) enhanced the same from 1% to 15% per annum and determined the interest payable at Rs.58,22,026/- as against Rs.6,83,974/-as determined by the assessing officer. 5. The Appellate Tribunal, on appeal, confirmed the same. Exasperated by the order of the Appellate Tribunal, the Revenue has come forward with this appeal rai ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tax Act read with section 244(1A) of the Income-tax Act, 1961, on the over payment of the self-assessment tax paid by the assessee. 7. Applying the ratio laid down by this Court in CIT v. Ashok Leyland Ltd. [2002] 254 ITR 641, we hold that while determining interest under section 244(1A) of the Act, the self-assessment tax paid under section 140A should also be taken into consid ..... X X X X Extracts X X X X X X X X Extracts X X X X
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