TaxTMI 
TaxTMI 
2023 (6) TMI 1407
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.... C. : 1. The following substantial question of law is proposed : SUBSTANTIAL QUESTION OF LAW Whether on the facts and circumstances of the case and in law, the Hon'ble Tribunal was right in cancelling the order made u/s 263 directing the AO to exclude interest u/s 244A granted to it on excess refund claimed through a revised return even when the Pr. Commissioner in Section 244A(2) is the fin....
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....resulted in refund of Rs.377,95,44,631/-. 3. On verification of records, the CIT(A) noticed that the Assessing Officer had failed to conduct proper enquiries and examine the issues in an appropriate manner which give rise to an erroneous assumption in as much as in the original return the assessee had claimed refund of Rs.21,19,54,764/- as against the claim of refund of Rs.337,74,22,347/- in the ....
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....o the assessee, whether wholly or in part, the period of the delay so attributable to him shall be excluded from the period for which interest is payable, and where any question arises as to the period to be excluded, it shall be decided by the Chief Commissioner or Commissioner whose decision thereon shall be final. As per this provision if the proceedings resulting in the refund are delayed fo....
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....ed 15th June 2011 decided some issues in favour of respondent in giving effect to CIT(A)'s order by the Assessing Officer on 7th March 2012 and it resulted in refund of Rs.377,95,44,631/-. Therefore it cannot be stated that proceedings resulting in the refund were delayed for reasons attributable to respondent wholly or in part. 5. Moreover, the ITAT has also, relying on a judgment of this court ....