TaxTMI 
TaxTMI 
2023 (2) TMI 808
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....rned counsels for both the sides. 2. The petitioner is before this Court seeking to challenge the action of the respondent for non-grant of the refund which has been withheld with interest and additional interest under Section 244A of the Income Tax Act. 3. Certain accounting entries were passed by the petitioner for the financial year 2004-05 - assessment year 2005-06 to the tune of Rs.6,50,62,085/- for provision of expenses to be made to Bombardier INC Canada and Bombardier INC UK. No actual remittance was there in the financial year 2004-05 and such provision, according to the petitioner, was disallowed in return of income as inadmissible under Section 40(a). 4. The petitioner since, later on in October, 2005, received the invoi....
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....00/-. It is averred that the said amount deposited by the petitioner is due for refund. The communications on different dates are also reflected, however, no heed is paid. 9. The complaint was preferred before CPGRAM of CBDT on 19.6.2017 for not giving effect to the order of the ITAT and the High Court and for non-issuance of the refund. 10. The complaint came lodged for the assessment year 2013-14 as well. The CPGRAM provided the reply on 11.78.2017 and 2.8.2017, however, there is no whisper on the refund of 2005-06. 11. Yet another complaint was preferred before CPGRAM for assessment year 2005-06 on 16.10.2017. The petitioner supplied the details to the respondent for it to process the claim of refund. However, due to mismatch of....
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.....90.46 lacs. SBI also furnished the reply on 5.2.2020 and 7.2.2020, wherein, it has been confirmed that the challans amounting to Rs.90.46 lacs had been received by the bank. In Tax Appeal No.1952 of 2009, request is made by the assessee company for issuance of the refund. It is also stated to adjust the refund along with consequential interest subject to written confirmation from the assessing officer of making adjustment of refund along with the interest on outstanding demand of particular assessment year. The jurisdictional AO (DCIT, Circle-5(1), New Delhi) has stated that demands for various years adjusted to Rs.70,83,92,180/- were outstanding in case of the assessee company. The refund claimed and its adjustments is not possible to be ....
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....ven but the compensation has been given by the Court earlier for the delay in making payment of interest as it is an exceptional circumstance which shall need to be borne in mind. 13. Learned senior standing counsel Mr.Patel submits that there is a huge outstanding dues of the past years and the adjustment will take a while as the payment which was made by the assessee was at the time when the software was not available and it was deposited physically because of which its record is not available and hence this has caused the delay over and above the reasons which have been given in paragraph 4 of the affidavit-in-reply. At the outset, it needs to be specifically mentioned that after the revenue's appeal was dismissed on 4.8.2016 confi....
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.... taken by the respondent authority of five years. With regard to the refund to be returned with the interest, sub-section (1A) inserted in Section 244A by the Finance Act of 1.6.2016 needs to be applied prospectively as per the decision of Nima Specific Family Trust (supra) for the period of delay after introduction of the relevant statutory provision and the assessee would be entitled to the compensation by way of interest. However, the assessee was held not to be entitled to the interest on interest which was awarded as compensation. In the instant case, the High Court has finalized the tax appeal on 4.8.2016. Considering the fact that both the provisions of Section 244 and 244A will be given effect to what the assessee is presently se....