TaxTMI 
TaxTMI 
2013 (10) TMI 117
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....12 Special Leave Petition (C) No. 14050 of 2012 Special Leave Petition (C) No. 14051 of 2012 Special Leave Petition - -<br>Income Tax<br>Hon'ble Judges H.L. Dattu, S.J. Mukhopadhaya and M.Y. Eqbal, JJ. For Appearing Parties: Rajiv Dutta, R.P. Bhatt, M.S. Syali, Sr. Advs., Arijit Prasad, Rahul Kaushik, Sadhana Sandhu, B.V. Balaram Das, Anil Katiyar, Bhargava V. Desai, Shreyas Mehrotra, Preetes....
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....nt by order dated 28.08.2012: "The question which arises in this case is, whether interest is payable by the Revenue to the assessee if the aggregate of installments of Advance Tax OF TDS paid exceeds the assessed tax?" 2. In the aforesaid order of reference, this Court has briefly noticed the facts and the discussion in Sandvik case (supra) wherein, the main issue for consideration and determi....
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....ecision was whether an assessee is entitled to be compensated by the Income Tax Department for the delay in paying interest on the refunded amount admittedly due to the assessee. This Court in the facts of the said case had noticed that there was delay of various periods, ranging from 12 to 17 years, in such payment by the Revenue. This Court had further referred to the several decisions which wer....
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....nterest @ 15% per annum for the aforesaid period. 6. In our considered view, the aforesaid judgment has been misquoted and misinterpreted by the assessees and also by the Revenue. They are of the view that in Sandvik case (supra) this Court had directed the Revenue to pay interest on the statutory interest in case of delay in the payment. In other words, the interpretation placed is that the Reve....