TMI Blog2016 (8) TMI 67X X X X Extracts X X X X X X X X Extracts X X X X ..... For The Appellant : Mr.A.V.Sreekanth, JCIT,DR For The Respondent : Mr.B.Ramakrishnan, C.A ORDER PER CHANDRA POOJARI, ACCOUNTANT MEMBER This appeal of the Revenue is directed against the order of the Commissioner of Income-tax (Appeals)-6, Chennai dated 22.02.2016 pertaining to assessment year2008-09. 2. The grievance of the Revenue is with regard to granting of interest u/s.244A on payment of self-assessment tax. 3. The brief facts of the case are that the assessee is a Director of SSI Limited and filed its return of income on 29.09.2008 admitting income of ₹ 94,65,23,041/- and paid taxed of ₹ 17,10,58,258/-. Subsequently the assessee filed a revised return on 11.12.2008within the time allowed u/s.139(5 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tion 148 or section 153A or, as the case may be, section 158BC, after taking into account the amount of tax, if any, already paid under any provision of this Act, the assessee shall be liable to pay such tax together with interest pay able under any provision of this Act for any delay in furnishing the return or any default or delay in payment of advance tax, before furnishing the return and the return shall be accompanied by proof of payment of such tax and interest. Explanation.-Where the amount paid by the assessee under this sub-section falls short of the aggregate of the tax and interest as aforesaid, the amount so paid shall first be adjusted towards the interest payable as aforesaid and the balance, if any, shall be adjusted towards ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or both in accordance with the provisions of sub-section (1), he shall, without prejudice to any other consequences which he may incur, be deemed to be an assessee in default in respect of the tax or interest or both remaining unpaid, and all the provisions of this Act shall apply accordingly. 244A. Interest on refunds.-(1) Where refund of any amount becomes due to the assessee under this Act, he shall, subject to the provisions of this section, be entitled to receive, in addition to the said amount, simple interest thereon calculated in the following manner, namely :- (a) where the refund is out of any tax paid under section 115WJ or collected at source under section 206C or paid by way of advance tax or treated as paid unde ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... an order under sub-section (3) of section 115WE or section 115WF or section 115WG or subsection (3) of sec tion 143 or section 144 or section 147 or section 154 or section 155 or section 250 or section 254 or section 260 or section 262 or section 263 or section 264 or an order of the Settlement Commission under sub- section (4) of section 245D, the amount on which interest was pay able under sub-section (1) has been increased or reduced, as the case may be, the interest shall be increased or reduced accordingly, and in a case where the interest is reduced, the Assessing Officer shall serve on the assessee a notice of demand in the prescribed form specifying the amount of the excess interest paid and requiring him to pay such amount ; and s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... if the amount of refund is less than 10 per cent. on regular assessment with regard to the refund of advance tax paid under section 115WJ in respect of fringe benefits ; (ii) tax collected at source under section 206C ; and (iii) advance tax or any tax treated as paid under section 199. But, with respect to other tax as per section 244A(1)(b), the interest shall be payable even if the amount is less than 10 per cent. of the tax as determined under section 143(1) or on the regular assessment, because there is no proviso to section 244A(1)(b) as provided under section 244A(1)(a). 8. That apart, the law is well-settled that even for the refund of tax paid under section 140A on self-assessment, the assessee is entitled to interest as held ..... X X X X Extracts X X X X X X X X Extracts X X X X
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