2021 (12) TMI 605

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....period of delay so attributable to petitioner shall be excluded from the period for which interest was payable. 2. Petitioner filed its return of income A.Y.-2001-2002 on 31st October 2001 declaring loss of Rs. 5,21,98,056/-. Petitioner received a notice on 28th January 2002 under Section 142(1) of the Act requiring petitioner to furnish return of income for A.Y.- 2001-2002 on or before 7th February 2002. Petitioner replied vide its letter dated 5th February 2002 stating that return of income was already filed on 31st October 2001. On 15th February 2002, petitioner filed another letter enclosing advance tax challan in original for a sum of Rs. 40,00,000/-. By another letter dated 20th March 2002, petitioner also filed 6 TDS certificates fo....

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....mpugned was passed on the grounds that because petitioner did not file the original receipts of the advance tax challan for payment of Rs. 40,00,000/- and as these were submitted only on 19th February 2002, interest was not payable for the period 1st April 2001 to 28th February 2002. Aggrieved by this order, petitioner has approached this court. 7. Under Section 237 of the Act, if any person satisfies the Assessing Officer that the amount of tax paid by him or on his behalf or treated as paid by him or on his behalf for any assessment year exceeds the amount with which he is properly chargeable under this Act for that year, he shall be entitled to a refund of the excess. Section 244A provides that where the refund of any amount becomes due....