2013 (12) TMI 1161

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.... Kumar, Advocates. ORDER By order dated 5th April, 2006, the following substantial question of law was admitted for hearing:- "Whether ITAT was in law right in directing the Assessing Officer to allow interest to the respondent-assessee even after it had held that the Assessing Officer was not competent to determine the question whether and if so for what period was the delay in completio....

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....s.1,47,33,659/- was held to be refundable. Thereafter, assessment order was passed on 30th March, 1998. While calculating the amount of refund, interest for the period from April, 1994 till November, 1997 was disallowed and not granted. 4. The assessee, thereafter, filed an application under Section 154 of the Act, which was rejected by the Assessing Officer, who observed that interest had been....

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....4 A92) (sic) of the Act, the period to be excluded is to be decided by the Chief Commissioner or Commissioner and his decision on the period to be to be excluded shall be final. In the present case the AO has not made any reference to the provisions of S.244 A(2) of the Act. Nor has the Assessing Officer referred the question of period to be excluded for awarding interest on refund to the Chief Co....

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....ed from the period for which interest is payable, and where any question arises as to the period to be excluded, it shall be decided by the Chief Commissioner or Commissioner whose decision thereon shall be final." 6. As per the said section, if refund is delayed for reasons attributable to the assessee wholly or in part, no interest is payable and the said period has to be excluded, but the sa....