Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram

TMI Blog

Home

2022 (12) TMI 461

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... - and interest amount of Rs. 19,01,224/- due to the petitioner." 2. The record would show that during the pendency of the writ petition, the respondent/revenue, even according to the petitioner, had refunded the principal amount; therefore, what remains outstanding is only the interest component. 3. The broad facts necessary to adjudicate this aspect of the matter are the following: 3.1 The petitioner had filed returns for the fourth quarter of 2014-2015 [hereafter referred to as "first period"] and the first quarter of 2016-2017 [hereafter referred to as "second period"]; wherein refund was claimed. The return for the first period was filed on 04.05.2015, while the return for the second period was filed on 05.10.2016. 3.2. In the retur .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... period is that because the petitioner failed to approach the SOHA in time for rectification, no interest should be granted to the petitioner. 5. The petitioner, insofar as the first period is concerned, has sought refund at the statutory rate from the date when SOHA had allowed the objections, i.e., 17.07.2018. 6. As regards the second period, it appears, in the order of the SOHA dated 08.07.2017, an error has crept in, inasmuch as, while its conclusion was right, it had inadvertently noted the value of the C-Forms presented by the petitioner as Rs.33,64,957/-. 6.1. The record shows that this error was brought to the notice of the petitioner by the authority vested with the power to grant refund, which led to the petitioner moving SOHA, .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... disturbed, i.e., the demand continued to be shown as "nil". 9.1. This was an obvious error, as the demand raised qua which objections were filed was pegged at Rs.33,64,957/-. The SOHA inadvertently noted this as the value of the C-Forms. 10. There is no dispute that the petitioner had presented, at the relevant point in time, i.e., before the order was passed by the SOHA on 08.07.2017, C-Forms worth Rs. Rs.3,42,20,991/-, as recorded in the order dated 07.09.2021. 11. Thus, having regard to the aforesaid, we agree with the submissions of Mr Bhatia that interest should run at least from the date when the petitioner filed an application for refund in the prescribed form, i.e., on 17.07.2017. 12. Interest in this case, is accorded to the as .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

 

 

 

 

Quick Updates:Latest Updates