CIT v. Infrastructure Development Finance Co. Ltd.

33 Taxmann.com 622High Court2013#8084 most cited

What is CIT v. Infrastructure Development Finance Co. Ltd. authority for?

Interest under Section 234D of the Income Tax Act is leviable based on the date of completion of the regular assessment, not the year of assessment. If the regular assessment is completed after the amended proviso to Section 234D (effective June 1, 2003) came into force, the assessee is liable to pay interest on the refunded amount.

14

judgments rely on this decision, according to BharatTax’s citation analysis of 366,005 Indian tax judgments — from 2016 to 2016.

Also referred to as

CIT v. Infrastructure Development Finance Co. Ltd · Section 234D · interest on refund · date of assessment · amended proviso

Also reported as

340 ITR 580

Judgments citing CIT v. Infrastructure Development Finance Co. Ltd.

M.Ct.M. Global Investments P Ltd., Chennai vs. ACIT, Chennai

In the result, while the assessee’s appeals in I

ITA 1936/CHNY/2012[2009-10]Status: DisposedITAT Chennai21 Oct 2016AY 2009-10

Bench: Shri N.R.S. Ganesan & Shri A. Mohan Alankamonyआयकर अपील सं./Ita No.1873/Mds/2008 आयकर अपील सं./Ita No.456/Mds/2009 आयकर अपील सं./Ita No.1102/Mds/2011 आयकर अपील सं./Ita Nos.115 & 1936/Mds/2012 "नधा"रण वष"/Assessment Years: 2004-05, 2005-06, 2007-08, 2008-09 & 2009-10 M/S M.Ct.M. Global Investments Pvt. The Assistant Commissioner Of Ltd., V. Income Tax, 761, Anna Salai, Company Circle Iv(1), Chennai - 600 002. Chennai - 600 034. Pan : Aabcm 9738 K (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Dr. Anita Sumanth, AdvocateFor Respondent: Sh. Pathlavath Peerya, CIT

…आयकर अपील"य अ"धकरण, ‘ए’ "यायपीठ, चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH, CHENNAI "ी एन.आर.एस. गणेशन, "या"यक सद"य एवं "ी ए. मोहन अलंकामणी, लेखा सद"य केसम" BEFORE SHRI N.R.S. GANESAN, JUDICIAL MEMBER AND SHRI A. MOHAN ALANKAMONY, ACCOUNTANT MEMBER आयकर अपील सं./ITA No.1873/Mds/2008 आयकर अपील सं./ITA No.456/Mds/2009 आयकर अपील सं./ITA No.1102/Mds/2011 आयकर अपील सं./ITA Nos.115 & 1936/Mds/2012 "नधा"रण वष"/Assessment Years: 2004-05, 2005-06, 2007-08, 2008-09 & 2009-10 M/s M.Ct.M. Global Investments Pvt. The Assistant Commissioner of Ltd., v. Income Tax, 761, Anna Salai, Company Circle IV(1), Chennai -…

M.Ct.M.Global Investments Private Limited, Chennai vs. ACIT, Chennai

In the result, while the assessee’s appeals in I

ITA 115/CHNY/2012[2008-09]Status: DisposedITAT Chennai21 Oct 2016AY 2008-09

Bench: Shri N.R.S. Ganesan & Shri A. Mohan Alankamonyआयकर अपील सं./Ita No.1873/Mds/2008 आयकर अपील सं./Ita No.456/Mds/2009 आयकर अपील सं./Ita No.1102/Mds/2011 आयकर अपील सं./Ita Nos.115 & 1936/Mds/2012 "नधा"रण वष"/Assessment Years: 2004-05, 2005-06, 2007-08, 2008-09 & 2009-10 M/S M.Ct.M. Global Investments Pvt. The Assistant Commissioner Of Ltd., V. Income Tax, 761, Anna Salai, Company Circle Iv(1), Chennai - 600 002. Chennai - 600 034. Pan : Aabcm 9738 K (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Dr. Anita Sumanth, AdvocateFor Respondent: Sh. Pathlavath Peerya, CIT

…आयकर अपील"य अ"धकरण, ‘ए’ "यायपीठ, चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH, CHENNAI "ी एन.आर.एस. गणेशन, "या"यक सद"य एवं "ी ए. मोहन अलंकामणी, लेखा सद"य केसम" BEFORE SHRI N.R.S. GANESAN, JUDICIAL MEMBER AND SHRI A. MOHAN ALANKAMONY, ACCOUNTANT MEMBER आयकर अपील सं./ITA No.1873/Mds/2008 आयकर अपील सं./ITA No.456/Mds/2009 आयकर अपील सं./ITA No.1102/Mds/2011 आयकर अपील सं./ITA Nos.115 & 1936/Mds/2012 "नधा"रण वष"/Assessment Years: 2004-05, 2005-06, 2007-08, 2008-09 & 2009-10 M/s M.Ct.M. Global Investments Pvt. The Assistant Commissioner of Ltd., v. Income Tax, 761, Anna Salai, Company Circle IV(1), Chennai -…

ACIT, Chennai vs. M/S. Mctm Global Investments Pvt Ltd., Chennai

In the result, while the assessee’s appeals in I

ITA 1285/CHNY/2011[2007-08]Status: DisposedITAT Chennai21 Oct 2016AY 2007-08

Bench: Shri N.R.S. Ganesan & Shri A. Mohan Alankamonyआयकर अपील सं./Ita No.1873/Mds/2008 आयकर अपील सं./Ita No.456/Mds/2009 आयकर अपील सं./Ita No.1102/Mds/2011 आयकर अपील सं./Ita Nos.115 & 1936/Mds/2012 "नधा"रण वष"/Assessment Years: 2004-05, 2005-06, 2007-08, 2008-09 & 2009-10 M/S M.Ct.M. Global Investments Pvt. The Assistant Commissioner Of Ltd., V. Income Tax, 761, Anna Salai, Company Circle Iv(1), Chennai - 600 002. Chennai - 600 034. Pan : Aabcm 9738 K (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Dr. Anita Sumanth, AdvocateFor Respondent: Sh. Pathlavath Peerya, CIT

…आयकर अपील"य अ"धकरण, ‘ए’ "यायपीठ, चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH, CHENNAI "ी एन.आर.एस. गणेशन, "या"यक सद"य एवं "ी ए. मोहन अलंकामणी, लेखा सद"य केसम" BEFORE SHRI N.R.S. GANESAN, JUDICIAL MEMBER AND SHRI A. MOHAN ALANKAMONY, ACCOUNTANT MEMBER आयकर अपील सं./ITA No.1873/Mds/2008 आयकर अपील सं./ITA No.456/Mds/2009 आयकर अपील सं./ITA No.1102/Mds/2011 आयकर अपील सं./ITA Nos.115 & 1936/Mds/2012 "नधा"रण वष"/Assessment Years: 2004-05, 2005-06, 2007-08, 2008-09 & 2009-10 M/s M.Ct.M. Global Investments Pvt. The Assistant Commissioner of Ltd., v. Income Tax, 761, Anna Salai, Company Circle IV(1), Chennai -…

M.Ct.M.Global Investments Private Limited, Chennai vs. ACIT, Chennai

In the result, while the assessee’s appeals in I

ITA 1102/CHNY/2011[2007-08]Status: DisposedITAT Chennai21 Oct 2016AY 2007-08

Bench: Shri N.R.S. Ganesan & Shri A. Mohan Alankamonyआयकर अपील सं./Ita No.1873/Mds/2008 आयकर अपील सं./Ita No.456/Mds/2009 आयकर अपील सं./Ita No.1102/Mds/2011 आयकर अपील सं./Ita Nos.115 & 1936/Mds/2012 "नधा"रण वष"/Assessment Years: 2004-05, 2005-06, 2007-08, 2008-09 & 2009-10 M/S M.Ct.M. Global Investments Pvt. The Assistant Commissioner Of Ltd., V. Income Tax, 761, Anna Salai, Company Circle Iv(1), Chennai - 600 002. Chennai - 600 034. Pan : Aabcm 9738 K (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Dr. Anita Sumanth, AdvocateFor Respondent: Sh. Pathlavath Peerya, CIT

…आयकर अपील"य अ"धकरण, ‘ए’ "यायपीठ, चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH, CHENNAI "ी एन.आर.एस. गणेशन, "या"यक सद"य एवं "ी ए. मोहन अलंकामणी, लेखा सद"य केसम" BEFORE SHRI N.R.S. GANESAN, JUDICIAL MEMBER AND SHRI A. MOHAN ALANKAMONY, ACCOUNTANT MEMBER आयकर अपील सं./ITA No.1873/Mds/2008 आयकर अपील सं./ITA No.456/Mds/2009 आयकर अपील सं./ITA No.1102/Mds/2011 आयकर अपील सं./ITA Nos.115 & 1936/Mds/2012 "नधा"रण वष"/Assessment Years: 2004-05, 2005-06, 2007-08, 2008-09 & 2009-10 M/s M.Ct.M. Global Investments Pvt. The Assistant Commissioner of Ltd., v. Income Tax, 761, Anna Salai, Company Circle IV(1), Chennai -…

M/S M.Ct.M. Global Investments Private Limited, Chennai vs. ACIT, Chennai

In the result, while the assessee’s appeals in I

ITA 456/CHNY/2009[2005-06]Status: DisposedITAT Chennai21 Oct 2016AY 2005-06

Bench: Shri N.R.S. Ganesan & Shri A. Mohan Alankamonyआयकर अपील सं./Ita No.1873/Mds/2008 आयकर अपील सं./Ita No.456/Mds/2009 आयकर अपील सं./Ita No.1102/Mds/2011 आयकर अपील सं./Ita Nos.115 & 1936/Mds/2012 "नधा"रण वष"/Assessment Years: 2004-05, 2005-06, 2007-08, 2008-09 & 2009-10 M/S M.Ct.M. Global Investments Pvt. The Assistant Commissioner Of Ltd., V. Income Tax, 761, Anna Salai, Company Circle Iv(1), Chennai - 600 002. Chennai - 600 034. Pan : Aabcm 9738 K (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Dr. Anita Sumanth, AdvocateFor Respondent: Sh. Pathlavath Peerya, CIT

…आयकर अपील"य अ"धकरण, ‘ए’ "यायपीठ, चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH, CHENNAI "ी एन.आर.एस. गणेशन, "या"यक सद"य एवं "ी ए. मोहन अलंकामणी, लेखा सद"य केसम" BEFORE SHRI N.R.S. GANESAN, JUDICIAL MEMBER AND SHRI A. MOHAN ALANKAMONY, ACCOUNTANT MEMBER आयकर अपील सं./ITA No.1873/Mds/2008 आयकर अपील सं./ITA No.456/Mds/2009 आयकर अपील सं./ITA No.1102/Mds/2011 आयकर अपील सं./ITA Nos.115 & 1936/Mds/2012 "नधा"रण वष"/Assessment Years: 2004-05, 2005-06, 2007-08, 2008-09 & 2009-10 M/s M.Ct.M. Global Investments Pvt. The Assistant Commissioner of Ltd., v. Income Tax, 761, Anna Salai, Company Circle IV(1), Chennai -…

ACIT, Chennai vs. M/S. M.Ct.M.Global Investments Pvt. Ltd., Chennai

In the result, while the assessee’s appeals in I

ITA 1654/CHNY/2009[2006-07]Status: DisposedITAT Chennai21 Oct 2016AY 2006-07

Bench: Shri N.R.S. Ganesan & Shri A. Mohan Alankamonyआयकर अपील सं./Ita No.1873/Mds/2008 आयकर अपील सं./Ita No.456/Mds/2009 आयकर अपील सं./Ita No.1102/Mds/2011 आयकर अपील सं./Ita Nos.115 & 1936/Mds/2012 "नधा"रण वष"/Assessment Years: 2004-05, 2005-06, 2007-08, 2008-09 & 2009-10 M/S M.Ct.M. Global Investments Pvt. The Assistant Commissioner Of Ltd., V. Income Tax, 761, Anna Salai, Company Circle Iv(1), Chennai - 600 002. Chennai - 600 034. Pan : Aabcm 9738 K (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Dr. Anita Sumanth, AdvocateFor Respondent: Sh. Pathlavath Peerya, CIT

…आयकर अपील"य अ"धकरण, ‘ए’ "यायपीठ, चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH, CHENNAI "ी एन.आर.एस. गणेशन, "या"यक सद"य एवं "ी ए. मोहन अलंकामणी, लेखा सद"य केसम" BEFORE SHRI N.R.S. GANESAN, JUDICIAL MEMBER AND SHRI A. MOHAN ALANKAMONY, ACCOUNTANT MEMBER आयकर अपील सं./ITA No.1873/Mds/2008 आयकर अपील सं./ITA No.456/Mds/2009 आयकर अपील सं./ITA No.1102/Mds/2011 आयकर अपील सं./ITA Nos.115 & 1936/Mds/2012 "नधा"रण वष"/Assessment Years: 2004-05, 2005-06, 2007-08, 2008-09 & 2009-10 M/s M.Ct.M. Global Investments Pvt. The Assistant Commissioner of Ltd., v. Income Tax, 761, Anna Salai, Company Circle IV(1), Chennai -…

ACIT, Chennai vs. M/S. M.Ct. M Global Investments Pvt. Ltd., Chennai

In the result, while the assessee’s appeals in I

ITA 1465/CHNY/2009[2005-06]Status: DisposedITAT Chennai21 Oct 2016AY 2005-06

Bench: Shri N.R.S. Ganesan & Shri A. Mohan Alankamonyआयकर अपील सं./Ita No.1873/Mds/2008 आयकर अपील सं./Ita No.456/Mds/2009 आयकर अपील सं./Ita No.1102/Mds/2011 आयकर अपील सं./Ita Nos.115 & 1936/Mds/2012 "नधा"रण वष"/Assessment Years: 2004-05, 2005-06, 2007-08, 2008-09 & 2009-10 M/S M.Ct.M. Global Investments Pvt. The Assistant Commissioner Of Ltd., V. Income Tax, 761, Anna Salai, Company Circle Iv(1), Chennai - 600 002. Chennai - 600 034. Pan : Aabcm 9738 K (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Dr. Anita Sumanth, AdvocateFor Respondent: Sh. Pathlavath Peerya, CIT

…आयकर अपील"य अ"धकरण, ‘ए’ "यायपीठ, चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH, CHENNAI "ी एन.आर.एस. गणेशन, "या"यक सद"य एवं "ी ए. मोहन अलंकामणी, लेखा सद"य केसम" BEFORE SHRI N.R.S. GANESAN, JUDICIAL MEMBER AND SHRI A. MOHAN ALANKAMONY, ACCOUNTANT MEMBER आयकर अपील सं./ITA No.1873/Mds/2008 आयकर अपील सं./ITA No.456/Mds/2009 आयकर अपील सं./ITA No.1102/Mds/2011 आयकर अपील सं./ITA Nos.115 & 1936/Mds/2012 "नधा"रण वष"/Assessment Years: 2004-05, 2005-06, 2007-08, 2008-09 & 2009-10 M/s M.Ct.M. Global Investments Pvt. The Assistant Commissioner of Ltd., v. Income Tax, 761, Anna Salai, Company Circle IV(1), Chennai -…

ACIT, Chennai vs. M/S M.Ct.M.Global Investments Pvt. Ltd., Chennai

In the result, while the assessee’s appeals in I

ITA 1438/CHNY/2009[2001-02]Status: DisposedITAT Chennai21 Oct 2016AY 2001-02

Bench: Shri N.R.S. Ganesan & Shri A. Mohan Alankamonyआयकर अपील सं./Ita No.1873/Mds/2008 आयकर अपील सं./Ita No.456/Mds/2009 आयकर अपील सं./Ita No.1102/Mds/2011 आयकर अपील सं./Ita Nos.115 & 1936/Mds/2012 "नधा"रण वष"/Assessment Years: 2004-05, 2005-06, 2007-08, 2008-09 & 2009-10 M/S M.Ct.M. Global Investments Pvt. The Assistant Commissioner Of Ltd., V. Income Tax, 761, Anna Salai, Company Circle Iv(1), Chennai - 600 002. Chennai - 600 034. Pan : Aabcm 9738 K (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Dr. Anita Sumanth, AdvocateFor Respondent: Sh. Pathlavath Peerya, CIT

…आयकर अपील"य अ"धकरण, ‘ए’ "यायपीठ, चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH, CHENNAI "ी एन.आर.एस. गणेशन, "या"यक सद"य एवं "ी ए. मोहन अलंकामणी, लेखा सद"य केसम" BEFORE SHRI N.R.S. GANESAN, JUDICIAL MEMBER AND SHRI A. MOHAN ALANKAMONY, ACCOUNTANT MEMBER आयकर अपील सं./ITA No.1873/Mds/2008 आयकर अपील सं./ITA No.456/Mds/2009 आयकर अपील सं./ITA No.1102/Mds/2011 आयकर अपील सं./ITA Nos.115 & 1936/Mds/2012 "नधा"रण वष"/Assessment Years: 2004-05, 2005-06, 2007-08, 2008-09 & 2009-10 M/s M.Ct.M. Global Investments Pvt. The Assistant Commissioner of Ltd., v. Income Tax, 761, Anna Salai, Company Circle IV(1), Chennai -…

ACIT, Chennai vs. M/S. M Ct M Global Investments P. Ltd., Chennai

In the result, while the assessee’s appeals in I

ITA 1954/CHNY/2008[2004-05]Status: DisposedITAT Chennai21 Oct 2016AY 2004-05

Bench: Shri N.R.S. Ganesan & Shri A. Mohan Alankamonyआयकर अपील सं./Ita No.1873/Mds/2008 आयकर अपील सं./Ita No.456/Mds/2009 आयकर अपील सं./Ita No.1102/Mds/2011 आयकर अपील सं./Ita Nos.115 & 1936/Mds/2012 "नधा"रण वष"/Assessment Years: 2004-05, 2005-06, 2007-08, 2008-09 & 2009-10 M/S M.Ct.M. Global Investments Pvt. The Assistant Commissioner Of Ltd., V. Income Tax, 761, Anna Salai, Company Circle Iv(1), Chennai - 600 002. Chennai - 600 034. Pan : Aabcm 9738 K (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Dr. Anita Sumanth, AdvocateFor Respondent: Sh. Pathlavath Peerya, CIT

…आयकर अपील"य अ"धकरण, ‘ए’ "यायपीठ, चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH, CHENNAI "ी एन.आर.एस. गणेशन, "या"यक सद"य एवं "ी ए. मोहन अलंकामणी, लेखा सद"य केसम" BEFORE SHRI N.R.S. GANESAN, JUDICIAL MEMBER AND SHRI A. MOHAN ALANKAMONY, ACCOUNTANT MEMBER आयकर अपील सं./ITA No.1873/Mds/2008 आयकर अपील सं./ITA No.456/Mds/2009 आयकर अपील सं./ITA No.1102/Mds/2011 आयकर अपील सं./ITA Nos.115 & 1936/Mds/2012 "नधा"रण वष"/Assessment Years: 2004-05, 2005-06, 2007-08, 2008-09 & 2009-10 M/s M.Ct.M. Global Investments Pvt. The Assistant Commissioner of Ltd., v. Income Tax, 761, Anna Salai, Company Circle IV(1), Chennai -…

M/S M.Ct.M. Global Investments Private Limited, Chennai vs. ACIT, Chennai

In the result, while the assessee’s appeals in I

ITA 1873/CHNY/2008[2004-05]Status: DisposedITAT Chennai21 Oct 2016AY 2004-05

Bench: Shri N.R.S. Ganesan & Shri A. Mohan Alankamonyआयकर अपील सं./Ita No.1873/Mds/2008 आयकर अपील सं./Ita No.456/Mds/2009 आयकर अपील सं./Ita No.1102/Mds/2011 आयकर अपील सं./Ita Nos.115 & 1936/Mds/2012 "नधा"रण वष"/Assessment Years: 2004-05, 2005-06, 2007-08, 2008-09 & 2009-10 M/S M.Ct.M. Global Investments Pvt. The Assistant Commissioner Of Ltd., V. Income Tax, 761, Anna Salai, Company Circle Iv(1), Chennai - 600 002. Chennai - 600 034. Pan : Aabcm 9738 K (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Dr. Anita Sumanth, AdvocateFor Respondent: Sh. Pathlavath Peerya, CIT

…आयकर अपील"य अ"धकरण, ‘ए’ "यायपीठ, चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH, CHENNAI "ी एन.आर.एस. गणेशन, "या"यक सद"य एवं "ी ए. मोहन अलंकामणी, लेखा सद"य केसम" BEFORE SHRI N.R.S. GANESAN, JUDICIAL MEMBER AND SHRI A. MOHAN ALANKAMONY, ACCOUNTANT MEMBER आयकर अपील सं./ITA No.1873/Mds/2008 आयकर अपील सं./ITA No.456/Mds/2009 आयकर अपील सं./ITA No.1102/Mds/2011 आयकर अपील सं./ITA Nos.115 & 1936/Mds/2012 "नधा"रण वष"/Assessment Years: 2004-05, 2005-06, 2007-08, 2008-09 & 2009-10 M/s M.Ct.M. Global Investments Pvt. The Assistant Commissioner of Ltd., v. Income Tax, 761, Anna Salai, Company Circle IV(1), Chennai -…

Sundaram Fasteners Limited, Chennai vs. ACIT, Chennai

In the result, the appeals of the assessee in ITA

ITA 1166/CHNY/2013[2008-2009]Status: DisposedITAT Chennai30 Sept 2016AY 2008-2009

Bench: Shri N.R.S. Ganesan & Shri Abraham P. George]

For Appellant: Shri. R. Vijayaraghavan, Adv

…f the Act, Ld Counsel for the assessee fairly submitted that the said issue has to be decided in favour of the Revenue in view of the subsequent judgment of the Hon'ble Madras High Court in the case of CIT vs. Infrastructure Development Finance Co. Ltd [2012] 340 ITR 580 ( Mad.), which is relevant for the proposition that for the applicability of provisions of section 234D, the date of assessment is relevant and not the year of assessment therefore/ when once the regular assessment is completed after the amended proviso of law (i. e 1.6.2003) came into operation the assessee is liable to pay interest on the refun…

Sundaram Fasteners Limited, Chennai vs. ACIT, Chennai

In the result, the appeals of the assessee in ITA

ITA 1165/CHNY/2013[2007-2008]Status: DisposedITAT Chennai30 Sept 2016AY 2007-2008

Bench: Shri N.R.S. Ganesan & Shri Abraham P. George]

For Appellant: Shri. R. Vijayaraghavan, Adv

…f the Act, Ld Counsel for the assessee fairly submitted that the said issue has to be decided in favour of the Revenue in view of the subsequent judgment of the Hon'ble Madras High Court in the case of CIT vs. Infrastructure Development Finance Co. Ltd [2012] 340 ITR 580 ( Mad.), which is relevant for the proposition that for the applicability of provisions of section 234D, the date of assessment is relevant and not the year of assessment therefore/ when once the regular assessment is completed after the amended proviso of law (i. e 1.6.2003) came into operation the assessee is liable to pay interest on the refun…

ACIT, Chennai vs. M/S. Sundaram Fasterners Ltd., Chennai

In the result, the appeals of the assessee in ITA

ITA 675/CHNY/2012[2006-07]Status: DisposedITAT Chennai30 Sept 2016AY 2006-07

Bench: Shri N.R.S. Ganesan & Shri Abraham P. George]

For Appellant: Shri. R. Vijayaraghavan, Adv

…f the Act, Ld Counsel for the assessee fairly submitted that the said issue has to be decided in favour of the Revenue in view of the subsequent judgment of the Hon'ble Madras High Court in the case of CIT vs. Infrastructure Development Finance Co. Ltd [2012] 340 ITR 580 ( Mad.), which is relevant for the proposition that for the applicability of provisions of section 234D, the date of assessment is relevant and not the year of assessment therefore/ when once the regular assessment is completed after the amended proviso of law (i. e 1.6.2003) came into operation the assessee is liable to pay interest on the refun…

Sundram Fasteners Limited, Chennai vs. Addl.CIT, Chennai

In the result, the appeals of the assessee in ITA

ITA 591/CHNY/2012[2006-07]Status: DisposedITAT Chennai30 Sept 2016AY 2006-07

Bench: Shri N.R.S. Ganesan & Shri Abraham P. George]

For Appellant: Shri. R. Vijayaraghavan, Adv

…f the Act, Ld Counsel for the assessee fairly submitted that the said issue has to be decided in favour of the Revenue in view of the subsequent judgment of the Hon'ble Madras High Court in the case of CIT vs. Infrastructure Development Finance Co. Ltd [2012] 340 ITR 580 ( Mad.), which is relevant for the proposition that for the applicability of provisions of section 234D, the date of assessment is relevant and not the year of assessment therefore/ when once the regular assessment is completed after the amended proviso of law (i. e 1.6.2003) came into operation the assessee is liable to pay interest on the refun…

CIT v. Infrastructure Development Finance Co. Ltd. (33 Taxmann.com 622) — Cited in 14 Judgments | BharatTax