2014 (5) TMI 745

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....pondent : Mr. Pitamber Das ORDER Per Bench The present appeals have been preferred by the assessee challenging the impugned separate orders of even date 13th September 2011, passed by the learned Commissioner (Appeals)-XX, Mumbai, for the assessment year 2001-02 to 2005-06 respectively. Since all these appeals pertain to the same assessee involving common issue arising out of identical set of f....

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....erest on refund was not granted on time, therefore, they are entitled to interest on interest. The learned Commissioner (Appeals) has decided this issue against the assessee on the ground that there is no provision under the Income Tax Act, 1961, for providing interest on interest. Against this finding of the learned Commissioner (Appeals), the assessee has preferred these appeals. He submitted th....

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....which can alone be claimed by the assessee, and not any other interest on statutory interest. Accordingly, the matter should be restored back to the file of the Assessing Officer to compute interest in accordance with the decision of the Hon'ble Supreme Court. The learned Departmental Representative too agreed with this proposition. 3. After considering the decision of the Hon'ble Supreme....