2019 (2) TMI 1589

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....as filed this appeal against the judgment of the Income Tax Appellate Tribunal. Following question was presented for our consideration: "Whether on the facts and in the circumstances of the case, the Tribunal was correct in law, in holding that interest u/s 244A is to be allowed on the self-assessment tax refunded to the assessee without appreciating the fact that self-assessment tax has been v....

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.... the assessee and not pursuant to a notice of demand issued u/s. 156 of the I.T.Act and as such the assessee is not eligible for interest u/s. 244(1)(b) of the I.T. Act? (b) Whether on the facts and in the circumstances of the case, the Tribunal was correct in law, in holding that interest u/s.244A is to be allowed on the self-assessment tax refunded to the assessee ignoring the decision ....

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....Ltd., (2015) 373 ITR 377/232 Taxman 287/55 taxmann.com 1 while allowing the appeal of the Respondent-Assessee. (ii) This grievance of the Revenue is unsustainable in law. This is so, as the Tribunal is bound by the decision of the jurisdictional High Court as held by the Apex Court in East India Commercial v/s. Collector of Customs AIR 1962 (SC) 1893 and this Court in CIT v/s. Thane Electricity....