TMI Blog2000 (11) TMI 1236X X X X Extracts X X X X X X X X Extracts X X X X ..... ayable on the declared income works out to ₹ 2,03,084. However, tax collected by the Department in the form of TDS was ₹ 5,45,555. Assessee-company filed its return on 29th Dec., 1993, i.e., before the due date to file return under s. 139(1) to claim refund of tax. The return was processed under s. 143(1)(a) of the Act wherein the income returned by the assessee was accepted. The intimation is dt. 29th March, 1994, wherein the interest payable on the refund was calculated @ 12 per cent on ₹ 3,42,471 for 12 months only i.e., from 1st April, 1993, to 29th March, 1994. The intimation under s. 143(1)(a) and the refund order dt. 13th Jan., 1995, were however served on the assessee only on 31st Jan., 1995. 3. The case of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed within three months from the date on which the total income is determined and the interest where payable is to be calculated at the specified rate, from the date immediately following the expiry of the three months aforesaid to the date of the order granting the refund. From this, it is clear that the date of the order granting the refund is the date of the refund voucher itself. The view stated to have been taken by some ITOs, that the date of the assessment order is to be taken as the 'date of order the granting the refund' is not correct. Thus, in cases where interest is payable by the Central Government to assessee under s. 243 of the Act, such interest is to be calculated up to the date of issue of the refund voucher. 5 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r expenditure on the cost of litigation upto the date of Tribunal. In this regard, he relied upon the judgment in Bagri Foundation vs. Chief CIT Ors. (2000) 158 CTR (Del) 679: (1999) 235 ITR 99(Del). 6. On the other hand, the learned Departmental Representative strongly relied upon the orders of the Tax authorities. 7. We have carefully considered the rival submissions and perused the record. In our view, the plea of the assessee deserves favourable consideration. In several cases, where a refund has to be granted to the assessee, the Revenue officials used to take longer time in clearing such refunds resulting in considerable hardship to the assessee and with a view to expedite grant of refund, a uniform period of three months has ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , direct the AO to calculate interest payable to the assessee from first day of April of the assessment year to the date on which the refund voucher is signed. Considering the circumstances of the case, we are also of the view that it is a fit case for awarding costs to the assessee under s. 255(2B) of the Act. In our view, awarding cost of ₹ 3,000 would meet the ends of justice and we hereby direct the respondent to deposit the cost with the Dy. Registrar, Tribunal (Mumbai Zone) within one month from the date of receipt of the order and the Registry is further directed to collect the cost and pay the same to the assessee upon presenting an application to that effect. 8. In the result, the appeal filed by the assessee is allowed. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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