2011 (1) TMI 1574

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....r.DR ORDER Per N.VIJAYAKUMARAN,J.M: This appeal is directed against the order of the ld. CIT(Appeals)-IV, Kochi, dated 11-11-2008, relating to the assessment year 1997-98. This appeal is for the claim of interest on refund. 2. The facts relevant are that the assessee claimed refund on tax by filing a delayed return of income. The Hon'ble High Court vide its judgment dated 26th November....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....e a valid return of income. 3. Aggrieved by this order of the Assist.Commissioner of Income-tax, the matter was carried in appeal before the CIT(Appeals), who upheld the findings of the Assessing Officer. Hence, the assessee is on second appeal before the Tribunal. 4. The argument of the ld. counsel for the assessee is that once the delay has been condoned, later on it cannot be held that th....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....al submissions and perused the materials available on record including the precedence. The quantum of refund is not in dispute. Only the interest on such refund alone is the dispute before us. In principle, as held by the Hon'ble Supreme Court in the case of CIT vs. Narendra Doshi reported in 254 ITR 606 interest upon interest is to be paid. Hence, we have to see whether the interest is consequent....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... the delay attributable has to be seen. The statute specifically provides and empowers that such a question arises as to the period to be excluded. It shall be decided by the Chief Commissioner or Commissioner and that decision shall be final. In this view of the matter, we set aside the order of the lower authorities and remit this issue back to the file of the Assessing Officer, who will decide ....