2010 (11) TMI 963

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....ct where the refund arose on account of self assessment tax without appreciating that the words ' in any other case' occurring in section 244A(1)(b) cannot be construed to include self assessment tax when it was not specif ically included in clause (a) of section 244A(1). 2. The appellant prays that the order of the learned CIT(A) on the above ground be set aside and that of the AO restored." 2. Briefly the facts of the case are that the assessee company incorporated and tax resident of Mauritius engaged in the business of broadcasting outside India. The assessee had filed revised return of income on 14/11/1996 declaring total income of Rs. . 1,50,44,566/-. An order u/s 263 was passed on 16/02/99 wherein interest u/s 234A of Rs.....

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....onsidering the submissions of the assessee, held as under:- "I have carefully considered the above facts and I have also also gone through the provisions of section 244A(1). Clause (b) of section 244A(1) says that where excess refund is due in respect of any other case such interest would be calculated at the rate prescribed therein, whereas clause (a) of section 244A(1) talks regarding excess payment on account of advance tax/TDS. Therefore, where excess payment has been made on account of self assessment or penalty would be covered in the phrase ' in any other case'. This is also supported by the case law cited by the Authorised Representative of the appellant in the case of Grindwell Norton Ltd. supra and Madras High Court in th....

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...., during the financial year immediately preceding the assessment year, such interest shall be calculated at the rate of [one-half per cent] for every month or part of a month comprised in the period from the 1st day of April of the assessment year to the date on which the refund is granted: Provided that no interest shall be payable if the amount of refund is less than ten per cent of the tax as determined [under [sub-section (1) of section 115WE or] sub-section (1) of section 143 or] on regular assessment; (b) in any other case, such interest shall be calculated at the rate of [one-half per cent] for every month or part of a month comprised in the period or periods from the date or, as the case may be, dates of payment of the tax ....