2013 (10) TMI 117

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....n (C) No. 11406 of 2008 Special Leave Petition (C) No. 14048 of 2012 Special Leave Petition (C) No. 14050 of 2012 Special Leave Petition (C) No. 14051 of 2012 Special Leave Petition - -<br>Income Tax<br>Hon&#39;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. Bal....

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....wing question of law for our consideration and authoritative pronouncement 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 discuss....

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....vik case (supra). The only issue formulated by this Court for its consideration and decision 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 payme....

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....06/- and interest @ 9% from 31.03.1986 to 27.03.1998 and in default, to pay the penal interest @ 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....