TMI Blog2016 (7) TMI 526X X X X Extracts X X X X X X X X Extracts X X X X ..... section 244A in the Income tax Act, 1961, with effect from April 1, 1989, which provides for interest on refunds under various contingencies. It is only that interest provided for under the statute which may be claimed by an assessee from the Revenue and no other interest on such statutory interest. Thus we are of the opinion that the Tribunal has rightly rejected the claim of the assessee. - Deci ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... question of law in each appeal: Whether, in the facts and circumstances of the case the Income-tax Appellate Tribunal was right in law in holding that the appellant is not entitled to any interest under section 244A of the Act? 3. The facts of the case are that the assessee claimed interest on interest. The Assessing Officer rejected the claim of the assessee. Against the order of the A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ibunal has committed error in rejecting the claim of the assessee. 5. The learned counsel for the respondent has supported the order of the Tribunal and contended that the Tribunal has, after taking into consideration the legal position, rightly rejected the claim of the assessee and thus the order of the Tribunal is not required to be disturbed by this court. 6. We have heard learned counse ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r an assessee who is made to wait for refund of interest for decates should be compensated for the great prejudice caused to it due to the delay in its payment after the lapse of statutory period. In the facts of that case, the court had come to the conclusion that there was an inordinate delay on the part of the Revenue in refunding certain amount which included the statutory interest and, theref ..... X X X X Extracts X X X X X X X X Extracts X X X X
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