SMALL INDUSTIRES DEVELOPMENT BANK OF INDIA,MUMBAI vs. DCIT CIR 3(3), MUMBAI

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ITA 3699/MUM/2012Status: DisposedITAT Mumbai30 May 2018AY 2002-039 pages

In favour of the assessee: the assessee's appeal was allowed. From the AI summary of this appeal.

AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that the assessee is entitled to interest under Section 244A of the Income Tax Act until the actual date of receipt of the refund order. This decision followed precedents from the Bombay High Court and the Tribunal itself.

What were the facts?

The assessee claimed interest under Section 244A on a refund amount until the actual date of receipt of the refund, not just until the date of the refund voucher. The Assessing Officer and CIT(A) had limited the interest to the date of the refund voucher.

What were the issues?

The key issue was the period for which interest under Section 244A is allowable on a refund, specifically whether it should be till the date of the refund voucher or the actual date of receipt by the assessee.

Which sections of the Income-tax Act were involved?

Section 244A

AI-generated summary — verify with the full judgment below

Cases cited in this judgment(2)Show list

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Income Tax Appellate Tribunal, MUMBAI BENCHES “E”, MUMBAI

Before: Shri Joginder Singh, & Shri N.K. Pradhan

For Appellant: Shri Gaurav Kabra, Shri Manjunath Swamy-DR
Hearing: 30/05/2018

आदेश क� ��त�ल�प अ�े�षत/Copy of the Order forwarded to : 1. अपीलाथ� / The Appellant 2. ��यथ� / The Respondent. 3. आयकर आयु�त(अपील) / The CIT, Mumbai. 4. आयकर आयु�त / CIT(A)- , Mumbai 5. �वभागीय ��त�न�ध, आयकर अपील�य अ�धकरण, मुंबई / DR,

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