TaxTMI 
TaxTMI 
2015 (6) TMI 930
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....f Sub-section (1) of Section 244A of the Income Tax Act, 1961 without properly appreciating the factual and legal matrix of the case as clearly brought out by the Assessing Officer. 2. The Learned CIT(A) has erred on facts and in law in holding that the assessee is entitled for interest u/s 244A(1 )(b) of the Income Tax Act, 1961 on refund out of excess Self Assessment Tax paid, without properly appreciating the fact that the said Self Assessment Tax was not collected through a notice of demand as provided in Explanation to clause (b) of Sub-section 244A(1) of the Income Tax Act, 1961 3. The Ld. CIT(A)'s order is contrary in law and on facts and deserves to be set aside. 4. The appellant prays that the order of CIT(A) on the above gr....
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....ewari, the Commissioner of Income Tax, Mumbai &Others, order dated 17/11/2014 in Writ Petition No.823 of 2000, after considering various arguments of the Revenue, has held that AO has to compute the interest payable from the date of payment on self assessment tax till the date of refund. He has placed a copy of the said order before us and a copy was also given to Ld. DR. In the said case assessee had paid a sum of Rs. 2.60 crores on 31/8/1994 by way of self assessment tax on which grant of interest was denied by the Revenue. Several contentions were raised by the Revenue to contend that assessee is not entitled to such interest. Their Lordships of Hon'ble Bombay High Court have considered all these contentions of the Revenue and after ....
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....he present case while in the case of Tata Chemicals Ltd. (supra) the tax was deducted at a higher rate in view of the order passed by the authority under the Act. We are unable to appreciate this distinction. This is for the reason that when an assessee pays tax either as Advance tax or on self assessment, it is paid to discharge an obligation under the Act. Not complying with the obligation under the Act visits consequences to an assessee just as non compliance of orders passed by authorities under the Act would. Thus there is no voluntary payment of tax on self assessment as contended by the Revenue. 11. The further submission of Mr. Pinto that in view of the Explanation to Section 244A(1)(b) of the Act the same would apply only when the....
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....0A of the Act. Secondly, the provisions of section 244A(1) (b) very clearly mandate that the revenue would pay interest on the amount refunded for the period commencing from the date the payment of tax is made to the revenue upto the date when refund is granted to the revenue. Thus, the submission of Mr. Pinto that the interest is payable not from the date of payment but from the date of demand notice under Section 156 of the Act cannot be accepted as otherwise the legislation would have so provided in section 244A(1)(b) of the Act, rather then having provided from the date of payment of tax." 4.3 Finally it was held by Hon'ble High Court that assessee is entitled to get interest on taxes paid as self assessment. Reference can be made ....