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COMMISSIONER OF INCOME TAX, DELHI-II Versus M/s. JYOTSNA HOLDINGS (P) LTD.

2016 (4) TMI 390 - SUPREME COURT

Interest on refund - Held that:- The amount in question, though found refundable to the assessee, was utilized by the Department and, therefore, interest was payable under Section 244(1A) of the Income Tax Act. - CIVIL APPEAL NO(S). 1774/2006 - Dated .....

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Ms. Saumya Mehrotra, Adv., Mr. Prakash Kumar, Adv., Ms. Bhavita, Adv. ORDER For the sake of convenience, we take note of the facts in respect of Assessment Year 1987-88 as similar factual situation appears in respect of all three Assessment Years vi .....

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43(3)by the Assessing Authority as per which an amount of ₹ 2,03,29,841/- was found refundable to the respondent/assessee. Instead of immediate refund of this amount, the Assessing Authority ordered that the same would be adjusted against the d .....

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