TATA SONS PRIVATE LIMITED,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX - 2(3)(1), MUMBAI

ITA 5109/MUM/2024Status: HeardITAT Mumbai16 December 2024AY 2008-2009Bench: SHRI NARENDRA KUMAR BILLAIYA, HON'BLE (Accountant Member), SHRI SANDEEP SINGH KARHAIL, HON'BLE (Judicial Member)1 pages
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What did the Tribunal hold?

The Tribunal held that the AO erred in how refunds were adjusted and interest was calculated. It directed the AO to re-compute the interest, ensuring the refund is first adjusted against the interest component and then the balance towards the tax component. The issue of additional interest under Section 244A(1A) was restored to the AO for fresh examination.

What were the facts?

The assessee, Tata Sons Private Limited, appealed against an order regarding the calculation of interest on refunds for Assessment Years 2008-09 and 2009-10. The core issue revolves around how the Assessing Officer (AO) adjusted refunds and calculated interest under Section 244A of the Income Tax Act.

What were the issues?

Whether the AO correctly calculated interest on refund by first adjusting interest and then tax, and whether additional interest under Section 244A(1A) is applicable and correctly calculated.

Which sections of the Income-tax Act were involved?

Section 244A,Section 244A(1A),Section 251

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Cases cited in this judgment(5)Show list

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Income Tax Appellate Tribunal, “E” BENCH, MUMBAI

Before: SHRI NARENDRA KUMAR BILLAIYA, HON’BLE & SHRI SANDEEP SINGH KARHAIL, HON’BLE

For Appellant: Shri Sukhsagar Syal, A/R
Hearing: 16/12/2024Pronounced: 16/12/2024

Heard together (2 matters)

I.T.A. No. 5109/Mum/2024
I.T.A. No. 5102/Mum/2024

Read from the judgment's own cause title. This page is filed under one of them.

PER NARENDRA KUMAR BILLAIYA, AM: This appeal by the assessee is preferred against the order dated 05/08/2024 & 26/08/2024 passed by NFAC, Delhi pertaining to AY 2008-09 & 2009-10, respectively.

2.

Since common grounds are involved, except for variance in quantum, both the appeals were heard together and are disposed off by this common order for the sake of convenience and brevity.

3.

The grievance of the assessee reads as under:- “Based on the facts and circumstances of the case and

The order continues below.

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