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2016 (3) TMI 248 - BOMBAY HIGH COURT

2016 (3) TMI 248 - BOMBAY HIGH COURT - TMI - Interest u/s 244A - refund arising on account of Double Taxation Relief u/s 90 - Held that:- Examining the claim for interest on refund granted, considered the fact that the relief under Section 90 of the Act is available in respect of the income tax which is payable both in India as well as in the other Countries with which India has DTAA. Therefore, relief under Section 90 of the Act is to be allowed while computing the tax liability in India by vir .....

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2016 - M. S. Sanklecha And B. P. Colabawalla, JJ. For the Appellant : Mr. Suresh Kumar For the Respondent : Mr. Niraj Sheth a/w Atul Jasani ORDER P. C. 1. This Appeal under Section 260A of the Income Tax Act, 1961 (the Act) challenges the order dated 10th July, 2013 passed by the Income Tax Appellate Tribunal (the Tribunal). The impugned order is in respect of Assessment Year 2003-04. 2. The Revenue has raised following question of law for our consideration : (i) Whether on the facts and circums .....

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Assessment Year declaring income of ₹ 16.84 crores. On 30th December, 2005, the Assessing Officer by the order passed under Section 143(3) of the Act, determined the petitioner's income at ₹ 17.43 crores. Thereafter, on 29th December, 2008, the Assessing Officer consequent to the order passed by the Commissioner of Income Tax under Section 263 passed an Assessment Order under Section 143(3) r/w Section 263 of the Act and determined the respondent assessee's income at ₹ .....

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e Tax Avoidance Agreement (DTAA) relief granted to the respondent assessee. According to the Assessing Officer, Section 244A of the Act only grants interest on refund of the tax paid either as advance or by way of deduction at source (TDS). The Assessing Officer held that refund available to the assessee consequent to a DTAA relief in computing the tax payable is not entitled to interest under the Act. 5. Being aggrieved, the respondent assessee carried the issue in an appeal to the Commissioner .....

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. Consequently, CIT(Appeals) directed the Assessing Officer to recompute the interest payable on the refund of tax which has been paid by the respondent assessee in India either in advance or by way of deduction at source. 6. Being aggrieved, the Revenue carried the issue in appeal to the Tribunal. The Tribunal by the impugned order upheld the order dated 22nd March, 2012 of the CIT(Appeals) and held that the DTAA relief / credit is available in respect of the taxes paid abroad and this credit g .....

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yable only on refunds arising out of tax paid / collected either as advance tax or as TDS. It has no application where the refund arises on account of DTA relief under Section 90 of the Act. It is also submitted that if the impugned order of the Tribunal is to be accepted then, the State would have to pay interest on taxes paid to a foreign Government. In view thereof, it is submitted that the appeal should be admitted. 8. The submission on behalf of the Revenue that the impugned order of the Tr .....

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