2017 (4) TMI 1619

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.... Himanshu Shah, A.R. ORDER PER : AMARJIT SINGH, ACCOUNTANT MEMBER:- This assessee's appeal for block period 01-4-1995 to 27-09-2001, arises from order of the CIT(A)-XI, Ahmedabad dated 11-11-2013 in appeal no. CIT(A)-XI/183/ACIT.Cir-5/12-13, in proceedings under section 154 of the Income Tax Act, 1961; in short "the Act". 2. The assessee has raised following grounds of appeal:- ....

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....see by stating that decision of the Hon'ble Apex court in the case of Sandvik Asia 280 ITR 643 had been overruled by the decision of the apex court in the case of CIT vs. Gujarat Flouro Chemicals. The findings of the Ld. CIT(A) is reproduced as under:- "3.1 I have carefully considered the facts of the case. Appellant has relied on various decisions in which interest on delay in payment of....

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.... section 214 of the I.T. Act does not provide for payment of compensation by the revenue to the assessee in whose favour refund order has been passed. It was further observed by the Hon'ble Supreme Court that in Sandvik Asia case interest was ordered on the basis of equity and also on the basis of Article 265 of constitution. Hon'ble Supreme Court has further held as under :- &#39....

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....ace this matter before Hon'ble the Chief Justice on the administrative side for appropriate orders. The Registry is also directed to place similar matters, which are pending in this Court, along with this petition." 3.2 In view of the decision of Hon'ble Supreme Court in the case of Gujarat Flouro Chemicals (supra), I am of the opinion that the delay in grant of interest u/s. 244A....