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Commissioner of Income Tax- 2 Versus M/s Tata Power Co. Ltd.

2016 (2) TMI 670 - BOMBAY HIGH COURT

Calculation of interest under section 244A - Whether, the Tribunal erred in law in holding that the interest portion of the refund arising out of the order giving effect to appellate authority has to be ignored for the purpose of calculating interest .....

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efund of tax has to be reduced by refund already granted it is only the tax element which has to be adjusted and not the interest element paid on the delayed refund of the tax. This is so as the interest which is paid to the assessee is for the wrong .....

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.2297/2013 & ITA No.194/2014 - Dated:- 9-2-2016 - M. S. Sanklecha And B. P. Colabawalla, JJ. For the Petitioner : Mr Suresh Kumar For the Respondents : Mr Mandar Vaidya with Mr Shrihari Iyer ORDER P. C. 1. Mentioned. Income Tax Appeal No.194 of 2014 .....

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July 2013 is on board. Therefore, at the request of counsel, Income Tax Appeal No.194 of 2014 is heard alongwith Income Tax appeal No.2297 of 2013. 2. Both these Appeals under section 260A of the Income Tax Act 1961 (Act) challenges the common order .....

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r consideration:- "(1) Whether the Tribunal was correct in law in holding that the interest portion of the refund arising out of the order giving effect to appellate authority has to be ignored for the purpose of calculating interest under secti .....

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of the Tribunal while disposing of the Appeals for AYs 2002-03 and 2005-06 has followed its order in the case of Respondent - Assessee's itself for AY 1997-98 rendered on 6th March 2013 while dismissing the Revenue's Appeal before it. 5. The .....

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enue's Appeal being Income Tax Appeal No.1560 of 2013 from the order dated 6th March 2013 passed for AY 1997-98. 6. The issue in these Appeals viz. granting of refund to the Respondent - Assessee consequent to the order of the Appellate Authority .....

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