Sandvik Asia Ltd. v. CIT

280 ITR 643Supreme Court of India2006#1181 most cited

What is Sandvik Asia Ltd. v. CIT authority for?

Assessees are entitled to compensation for the inordinate delay by the Income Tax Department in refunding excess tax, which includes interest on the statutory interest due under section 244A for such delayed refunds.

96

judgments rely on this decision, according to BharatTax’s citation analysis of 366,005 Indian tax judgments — from 2009 to 2026.

Also referred to as

Sandvik Asia Ltd. v. CIT · Section 244A · interest on interest · delayed income tax refund · compensation for delay · statutory interest on refund · interest under Section 244A · refund of excess tax · income tax interest

Also reported as

150 Taxmann 591

Sections most often in play

Section 244ASection 143(1)Section 143(3)Section 144BSection 154Section 154 of the Income Tax ActSection 2020Section 244A of the Income Tax Act
Read the full judgment

Issues it is cited on

section 140a(1)section 215section 207section 262section 2(43)section 209section 2(1)section 208interest on interestsection 210section 115jaasection 140a

Judgments citing Sandvik Asia Ltd. v. CIT

Small Industries Development Bank of India, Mumbai vs. Pr CIT 3, Mumbai

In the result, appeal filed by the assessee is dismissed

ITA 3450/MUM/2015[2003-04]Status: DisposedITAT Mumbai04 Nov 2019AY 2003-04

Bench: Shri Shri Pawan Singh (Jm) & Shri G Manjunatha (Am) M/S Small Industries Vs Pr. Commissioner Of Income- Development Bank Of India Tax-3, Mumbai C-22, ‘G’Block, Msme Development Centre, Bandra Kurla Complex, Bandra (E), Mumbai Pan : Aabcs3480N Appellant Respondednt

Section 143(3)Section 154Section 244ASection 263Section 263(1)

…Bank Hon’ble Supreme Court in Gujarat Flouro Chemicals (supra), the entire order of Full Bench of Hon’ble Apex Court is extracted below:- “1. Doubting the correctness or otherwise of the decision of this Court in the case of Sandvik Asia Ltd. v. CIT [2006] 280 ITR 643/150 Taxman 591, a bench of two learned Judges has referred the following question of law for our consideration and authoritative pronouncement by order dated 28.08.2012: "The question which arises in this case is, whether interest is payable by the Revenue to the assessee if the aggregate of installments of Advance Tax OF TDS paid exceeds the as…

M/S Dcm Shriiram Ltd., New Delhi vs. DCIT, New Delhi

In the result, both the appeals of the assessee are allowed

ITA 5221/DEL/2016[2005-06]Status: DisposedITAT Delhi30 Oct 2019AY 2005-06

Bench: Ms. Sushma Chowla & Dr. B.R.R.Kumarआयकर अपील सं आयकर अपील सं. / Ita Nos. 5221 & 5222/Del/2016 आयकर अपील सं आयकर अपील सं िनधा"रण वष" / Assessment Years: 2005-06 & 2009-10 िनधा"रण वष" िनधा"रण वष" िनधा"रण वष" Dcm Shriram Ltd., 5Th Floor, Kanchenjunga Building, 18, Barakhamba Road, New Delhi-110001. …...........अपीलाथ"/Appellant Pan-Aaacd0097R Vs Dcit, Circle-7(1), …………. ू"यथ" / Respondent C.R.Building, New Delhi.

For Appellant: Sh. Pradeep Dinodia, CAFor Respondent: Ms. Ashima Neb, Sr.DR
Section 115JSection 154Section 240

…. Referring to the provisions of section 244A(a) of the Act, she pointed out that the said section does not talk of interest on interest. He also pointed out that the decision of Hon’ble Supreme Court in the case of Sandvik Asia Limited vs CIT & Ors. [2006] 280 ITR 643 (SC) was referred by the Hon’ble Apex Court in CIT vs Gujarat Fluoro Chemicals (supra). In this regard, he pointed out that the Hon’ble Apex Court in CIT vs Gujarat Fluoro Chemicals (supra) have laid down the ratio that no interest is to be allowed on delayed refunds. Referring to the departmental Circular which has been referred by the Ld.AR f…

M/S Dcm Shriiram Ltd., New Delhi vs. DCIT, New Delhi

In the result, both the appeals of the assessee are allowed

ITA 5222/DEL/2016[2009-10]Status: DisposedITAT Delhi30 Oct 2019AY 2009-10

Bench: Ms. Sushma Chowla & Dr. B.R.R.Kumarआयकर अपील सं आयकर अपील सं. / Ita Nos. 5221 & 5222/Del/2016 आयकर अपील सं आयकर अपील सं िनधा"रण वष" / Assessment Years: 2005-06 & 2009-10 िनधा"रण वष" िनधा"रण वष" िनधा"रण वष" Dcm Shriram Ltd., 5Th Floor, Kanchenjunga Building, 18, Barakhamba Road, New Delhi-110001. …...........अपीलाथ"/Appellant Pan-Aaacd0097R Vs Dcit, Circle-7(1), …………. ू"यथ" / Respondent C.R.Building, New Delhi.

For Appellant: Sh. Pradeep Dinodia, CAFor Respondent: Ms. Ashima Neb, Sr.DR
Section 115JSection 154Section 240

…. Referring to the provisions of section 244A(a) of the Act, she pointed out that the said section does not talk of interest on interest. He also pointed out that the decision of Hon’ble Supreme Court in the case of Sandvik Asia Limited vs CIT & Ors. [2006] 280 ITR 643 (SC) was referred by the Hon’ble Apex Court in CIT vs Gujarat Fluoro Chemicals (supra). In this regard, he pointed out that the Hon’ble Apex Court in CIT vs Gujarat Fluoro Chemicals (supra) have laid down the ratio that no interest is to be allowed on delayed refunds. Referring to the departmental Circular which has been referred by the Ld.AR f…

Indogulf Corporation Ltd, Mumbai vs. Asst CIT RG 3, Mumbai

In the result, Ground No.1 to 3 are allowed

ITA 765/MUM/2015[1999-00]Status: DisposedITAT Mumbai18 Sept 2019AY 1999-00

Bench: Shri G.S. Pannu, Vice- & Shri Pawan Singh

For Appellant: Shri Yogesh Thar (AR)For Respondent: Shri R.A. Dhyani (DR)
Section 143(3)Section 154Section 244ASection 254(1)

…d in confirming the order of the Ld. A.O in not allowing further interest u/s. 244A which is allowable to the appellant on the amount of interest withheld by the Department in view of the judgment of the Hon'ble Supreme Court in the case of Sandvik Asia Ltd. (280 ITR 643). 2. At the outset of hearing, the ld. Authorized Representative (AR) of the assessee submits that Ground No.1 to 3 of the appeal are covered in favour of assessee by the decision of Mumbai Tribunal in assessee own case in ITA No. 764 & 767/M/2015 for A.Y. 1999-2000 & 2000-2001 dated 20.01.2017 wherein the order of Lucknow Tribunal in Indo-Gul…

DCIT Cen Cir 8(4), Mumbai vs. Savita Oil Technologies Ltd, Mumbai

Appeal is allowed

ITA 7620/MUM/2016[2010-11]Status: DisposedITAT Mumbai24 Apr 2019AY 2010-11

Bench: Shri Mahavir Singh & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No.7620/Mum/2016 (नििाारण वर्ा / Assessment Year : 2010-11)

For Appellant: Shri. Shiv PrakashFor Respondent: Shri. D.G Pansari, DR
Section 140ASection 244ASection 244A(1)(b)

…आयकर अपीऱीय अधिकरण “E” न्यायपीठ म ुंबई में। IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI BEFORE SHRI MAHAVIR SINGH, JUDICIAL MEMBER AND SHRI RAMIT KOCHAR, ACCOUNTANT MEMBER आयकर अपीऱ सं./I.T.A. No.7620/Mum/2016 (नििाारण वर्ा / Assessment Year : 2010-11) बिाम/ Deputy Commissioner of Savita Oil Technologies Income-tax, Ltd. Central Circle 8(4) 66-67,Nariman Bhawan, v. 6th Floor, R.No. 658 Nariman Point, Aayakar Bhavan, Mumbai-400021 M.K Road, Mumbai-400020 स्थायी ऱेखा सं./ PAN:AAACS7934A (अपीऱाथी /Appellant) (प्रत्यथी / Respondent) .. Revenue by: Shri. D.G Pansari, DR Assessee by: Shri. Shiv Prakash स…

DCIT Cir 2(2)(1), Mumbai vs. State Bank of India, Mumbai

In the result, appeal of the Revenue is dismissed

ITA 3356/MUM/2016[2000-01]Status: DisposedITAT Mumbai21 Mar 2018AY 2000-01

Bench: Shri C.N. Prasad, Hon'Ble & Shri Manoj Kumar Aggarwal, Hon'Blethe Deputy Commissioner Of V. M/S. State Bank Of India Income –Tax, Circle 2(2)(1) Financial Reporting & Taxation Room No. 545, Department, 3Rd Floor, Corporate Centre, Aayakar Bhavan, M.K. Road, State Bank Bhavan, Madam Cama Road, Mumbai-400 020 Nariman Point, Mumbai – 400 021 Pan: Aaacs 8577 K (Appellant) (Respondent) Assessee By : Shri C. Naresh Department By : Shri H.N. Singh

For Appellant: Shri C. NareshFor Respondent: Shri H.N. Singh
Section 244ASection 244A(1)Section 244A(1)(b)

…ind that the Hon'ble Supreme Court has not laid down any ratio on the issues. The Hon'ble Supreme Court set aside the entire Batch of appeals to High Courts clarifying the circumstances under which the view taken by their Lordships in Sandvik Asia Ltd v. CIT [280 ITR 643] that assessee is entitled for interest on the interest for the inordinate delay on the part of the Revenue in granting interest refund. The Hon'ble Supreme Court, 4 M/s. State Bank of India further clarified that only that interest provided in the statute should be allowed but not interest on interest. With these observations/clarification all…

Deputy Commissioner of Income Tax, Jaipur vs. Rajasthan Rajya Vidyut Prasaran Nigam Ltd., Jaipur

In the result, the appeal of the revenue stands allowed

ITA 1010/JPR/2017[2001-02]Status: DisposedITAT Jaipur27 Feb 2018AY 2001-02
For Appellant: Shri P.C. Parwal (CA)For Respondent: Smt. Richa Khoda (CIT) fu/kZkfjrh dh vksj ls@
Section 244A

…. 2001-02, wherein the revenue has taken following grounds of appeal: “(i) Whether on the facts in the circumstances of the case and in law the Id. CIT(A) is justified in applying the judgment of Hon'ble Supreme Court in the case of Sandvik Asia Ltd. Vs CIT (280 ITR 643) dated 27/01/2006 for allowing interest on interest, despite the fact that the said judgment has been revised by the Hon'ble Supreme Court on 18/09/2013 in the case of M/s Gujrat Fluoro Chemicals (SLP)(C) ITA 1010/JP/2017_ 2 No. 11406/2008, wherein it has held that only statutory interest U/s 244A is admissible and not interest on interest.” 2…

Dcm Shriram Consolidated Ltd., New Delhi vs. DCIT, New Delhi

In the result, appeal of the assessee is allowed

ITA 5172/DEL/2014[2003-04]Status: DisposedITAT Delhi29 Dec 2017AY 2003-04

Bench: Shri Bhavnesh Saini & Shri Prashant Maharishi

For Appellant: Shri Pradeep Dinodia, CAFor Respondent: Shri Subhash Verma, Sr. DR
Section 244ASection 80

…ing a direction to the Assessing Officer to grant interest on interest as per provisions of section 244A of the Act in terms of decisions of Hon’ble Supreme Court in the cases of CIT Vs. Narendra Doshi 254 ITR 606 (SC) and Sandvik Asia Ltd. Vs. CIT and Others 280 ITR 643 (SC) for the reason that Assessing Officer had not given effect to the order of Tribunal dated 16.10.2009 within a reasonable period and had wrongly withheld the amount of refund, causing financial hardship and interest loss to the appellant. 5. That the CIT(A) also failed to appreciate that the interest is granted by the Govt, only @ 6% as again…

DCIT, Udupi vs. M/S Syndicate Bank, Manipal

In the result, the appeals filed by the revenue are dismissed

ITA 1188/BANG/2016[1984-85]Status: DisposedITAT Bangalore02 May 2017AY 1984-85

Bench: Shri Inturi Rama Rao & Shri Sudhanshu Srivastava

For Appellant: Shri Nataraj, DCIT & Shri SiddappajiFor Respondent: Shri S.Ananthan & Smt.Lalitha R, CAs
Section 244A(1)Section 244A(2)

…interest payable to the and consequently interest should be paid on the principal amount due by the revenue authorities. The contention of the assessee is based on the ratio of the decision of the Hon’ble Supreme Court in the case of Sandvik Asia Ltd Vs. CIT (280 ITR 643) wherein the Hon’ble Supreme Court held as follows: “38. The facts and the law referred to in paragraph (supra) would clearly go to show that the appellant was undisputably entitled to interest under sections 214 and 244 of the Act as held by the various High Courts and also of this Court. In the instant case, the appellant’s money had been unju…

DCIT, Chennai vs. M/S. Wheels India Ltd., Chennai

The appeals of the Revenue are allowed for statistical purposes

ITA 2237/CHNY/2016[2009-10]Status: DisposedITAT Chennai25 Nov 2016AY 2009-10

Bench: Shri N.R.S. Ganesan & Shri D.S. Sunder Singhआयकर अपील सं./Ita Nos.2235, 2236 & 2237/Mds/2016 "नधा"रण वष" / Assessment Years : 2006-07, 2007-08 & 2009-10 The Deputy Commissioner Of M/S Wheels India Limited, Income Tax, V. No.21, Pattulos Road, Large Tax Payer Unit – 1, Chennai - 600 002. Chennai - 600 034. Pan : Aaacw 0315 K (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Sh. Shiva Srinivas, JCITFor Respondent: Sh. R. Vijayaraghavan, Advocate
Section 244A

…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 "ी "ड.एस. सु"दर "संह, लेखा सद"य केसम" BEFORE SHRI N.R.S. GANESAN, JUDICIAL MEMBER AND SHRI D.S. SUNDER SINGH, ACCOUNTANT MEMBER आयकर अपील सं./ITA Nos.2235, 2236 & 2237/Mds/2016 "नधा"रण वष" / Assessment Years : 2006-07, 2007-08 & 2009-10 The Deputy Commissioner of M/s Wheels India Limited, Income Tax, v. No.21, Pattulos Road, Large Tax Payer Unit – 1, Chennai - 600 002. Chennai - 600 034. PAN : AAACW 0315 K (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant by : Sh.…

DCIT, Chennai vs. M/S. Wheels India Ltd., Chennai

The appeals of the Revenue are allowed for statistical purposes

ITA 2236/CHNY/2016[2007-08]Status: DisposedITAT Chennai25 Nov 2016AY 2007-08

Bench: Shri N.R.S. Ganesan & Shri D.S. Sunder Singhआयकर अपील सं./Ita Nos.2235, 2236 & 2237/Mds/2016 "नधा"रण वष" / Assessment Years : 2006-07, 2007-08 & 2009-10 The Deputy Commissioner Of M/S Wheels India Limited, Income Tax, V. No.21, Pattulos Road, Large Tax Payer Unit – 1, Chennai - 600 002. Chennai - 600 034. Pan : Aaacw 0315 K (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Sh. Shiva Srinivas, JCITFor Respondent: Sh. R. Vijayaraghavan, Advocate
Section 244A

…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 "ी "ड.एस. सु"दर "संह, लेखा सद"य केसम" BEFORE SHRI N.R.S. GANESAN, JUDICIAL MEMBER AND SHRI D.S. SUNDER SINGH, ACCOUNTANT MEMBER आयकर अपील सं./ITA Nos.2235, 2236 & 2237/Mds/2016 "नधा"रण वष" / Assessment Years : 2006-07, 2007-08 & 2009-10 The Deputy Commissioner of M/s Wheels India Limited, Income Tax, v. No.21, Pattulos Road, Large Tax Payer Unit – 1, Chennai - 600 002. Chennai - 600 034. PAN : AAACW 0315 K (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant by : Sh.…

DCIT, Chennai vs. M/S. Wheels India Ltd., Chennai

The appeals of the Revenue are allowed for statistical purposes

ITA 2235/CHNY/2016[2006-07]Status: DisposedITAT Chennai25 Nov 2016AY 2006-07

Bench: Shri N.R.S. Ganesan & Shri D.S. Sunder Singhआयकर अपील सं./Ita Nos.2235, 2236 & 2237/Mds/2016 "नधा"रण वष" / Assessment Years : 2006-07, 2007-08 & 2009-10 The Deputy Commissioner Of M/S Wheels India Limited, Income Tax, V. No.21, Pattulos Road, Large Tax Payer Unit – 1, Chennai - 600 002. Chennai - 600 034. Pan : Aaacw 0315 K (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Sh. Shiva Srinivas, JCITFor Respondent: Sh. R. Vijayaraghavan, Advocate
Section 244A

…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 "ी "ड.एस. सु"दर "संह, लेखा सद"य केसम" BEFORE SHRI N.R.S. GANESAN, JUDICIAL MEMBER AND SHRI D.S. SUNDER SINGH, ACCOUNTANT MEMBER आयकर अपील सं./ITA Nos.2235, 2236 & 2237/Mds/2016 "नधा"रण वष" / Assessment Years : 2006-07, 2007-08 & 2009-10 The Deputy Commissioner of M/s Wheels India Limited, Income Tax, v. No.21, Pattulos Road, Large Tax Payer Unit – 1, Chennai - 600 002. Chennai - 600 034. PAN : AAACW 0315 K (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant by : Sh.…

Quality Vmg Bus Depot Project, Mumbai vs. DCIT (TDS) 2(2)

In the result, assessee’s appeal is partly allowed

ITA 4193/MUM/2014[2005-06]Status: DisposedITAT Mumbai16 Sept 2016AY 2005-06

Bench: Shri Saktijit Dey & Shri N.K. Pradhan

For Appellant: Shri K.B. DesaiFor Respondent: Shri Satya Pal Kumar
Section 154Section 244A

…ith Government. In this context, he also relied upon the decision of Hon'ble Jurisdictional High Court in Stock Holding Corp. of India Ltd. v/s CIT & Ors, [2015] 373 ITR 282 (Bom.) and the decision of the Hon'ble Supreme Court in Sandvik Asia v/s ACIT, [2008] 280 ITR 643 (SC). As far as the decision of the learned Commissioner (Appeals) in rejecting the additional ground raised by the assessee claiming interest on interest, the learned Authorised Representative submitted, as per the decision of the Hon'ble Supreme Court in National Thermal Power Co. Ltd. v/s CIT, 229 ITR 383 (SC), the learned Commissioner (Appeal…

D.C.I.T Cir - 6, Kolkata vs. M/S United Bank of India, Kolkata

In the result, the appeal by the revenue is dismissed

ITA 1709/KOL/2013[1991-92]Status: DisposedITAT Kolkata02 Sept 2016AY 1991-92

Bench: Hon’Ble Shri P.M.Jagtap, Am & Sri N.V.Vasudevan, Jm ]

For Appellant: Shri S.M.Das, JCIT.Sr.DRFor Respondent: Shri Soumitra Chowdhury, Advocate
Section 154Section 201Section 244ASection 244A(3)Section 251

…alculated in the order dated 31.3.2009. The Assessee further submitted that the calculation of interest as done by the AO in the order dated 31.3.2009 was as per the decision of the Hon’ble Supreme Court in the case of Sandvik Asia Ltd. vs. C.I. T reported in 280 ITR 643(SC) and Hon 'ble I. T.A. T, Kolkata Bench in the case of ITA No.1709/Kol/2013 M/s. United Bank of India A.Y.1991-92 3 JCIT (OSD) vs. M/S. ITC Hotels Ltd. (Merged with ITC Ltd) relating to assessment years 1996-97 to 1998-99 in I.T Appeal No. : 243 to 245/K/2012 dated 29th June, 2012. The Assessee also pointed out that in Assesse’s own case CIT (…

Rajashekhar Swaminathan Iyer, Mumbai vs. DCIT 8(3), Mumbai

In the result, the appeal filed by the Assessee is allowed

ITA 5450/MUM/2014[2009-10]Status: DisposedITAT Mumbai27 Jul 2016AY 2009-10

Bench: Shri Joginder Singh & Shri Ashwani Tanejaassessment Year: 2009-10 Rajashekhar Dcit 89(3) Swaminathan Iyer, बनाम/ A-3 Palm Beach Mumbai- Vs. Apartment Jai Prakash Road, Versova Mumbai -400 061 (Revenue) (Respondent ) P.A. No.Aaapi0724R Assessee By Shri Ashok D. Shah (Ar) Revenue By Shri O.P. Meena (Dr)

Section 143(1)Section 154Section 244Section 244A

…1961, especially when the assessee is not at fault. Subsequent to the above decision, the CBDT came out with instruction No.7/2013 on the subject of payment of interest u/s 244A Act when assessee is not at fault. 3.6. In the case of Sandvik Asia Ltd. vs CIT 280 ITR 643, Hon’ble Supreme Court held as follows: "In view of the express provisions of the Income Tax Act, 1961, an assessee is entitled to compensation by way of interest for the delay in the payment of amounts lawfully due to the assessee which are withheld wrongly and contrary to law.” 3.7. Hon’ble Gauhati High Court in the case of Jwala Prasad Sikaria…

JCIT, Bangalore vs. M/S Abb Ltd., Bangalore

In the result, the appeal of Revenue stands allowed for statistical purposes

ITA 1413/BANG/2013[1988-89]Status: DisposedITAT Bangalore22 Apr 2016AY 1988-89

Bench: Shri A.K. Garodia & Shri Vijay Pal Raoassessment Year : 1988-89

For Appellant: Dr. P.K. Srihari, Addl. CIT(DR)For Respondent: Shri K.S. Lukose
Section 244

…erest. 3. For these and such other grounds that may be urged at the time of hearing.” 3. It was submitted by the ld. DR of Revenue that ld. CIT (Appeals) has followed the judgment of Hon’ble Apex Court rendered in the case of Sandvik Asia Ltd. v. CIT, (2006) 280 ITR 643, but as per the later judgment rendered by the Hon’ble Apex Court in the case of CIT v. Gujarat Fluoro Chemicals reported in 42 taxmann.com 1 (SC), the Hon’ble Apex Court has reversed its judgment rendered in the case of Sandvik Asia Ltd. (supra). He has submitted a copy of this judgment of the Hon’ble Apex Court rendered in the case of CIT v. Gu…

Insilco Limited, Gurgaon vs. ACIT, New Delhi

Appeal is allowed

ITA 2586/DEL/2011[1993-94]Status: DisposedITAT Delhi07 Mar 2016AY 1993-94

Bench: : Shri I.C. Sudhir & Shri L.P. Sahu

For Appellant: Sh. V.P. Gupta, Advocate &For Respondent: Sh. Surender Pal, Sr. DR
Section 154Section 220Section 220(2)Section 244ASection 251

…grant of interest u/s 244A for A.Y. 1993-94. Therefore, there exists no mistake for A.Y. 1993-94 which is sought to be relied on by AO. 3.5. Ld. counsel then relied on Hon'ble Supreme Court judgment in the case of Sandvik Asia Ltd. Vs. CIT & others b(2006) 280 ITR 643 (SC), holding that assessee has a right to be compensated for wrongful detention of monies by the department. Further reliance is placed on Hon'ble Supreme Court judgment in the case of Mepco Industries Ltd. Vs. CIT & Anr. (2009) 319 ITR 208 (SC), which in turn has relied on other Supreme Court judgment, for the proposition that rectifiable mista…

Tata Communications Ltd ( Formerly Videsh Sanchar Nigam Ltd), Mumbai vs. DCIT, Mumbai

In the result, assessee’s appeal is allowed

ITA 1285/MUM/2013[2004-05]Status: DisposedITAT Mumbai29 Feb 2016AY 2004-05

Bench: Shri Saktijit Dey & Shri Ramit Kochar

For Appellant: Shri Dinesh VyasFor Respondent: Shri Manjunatha Swamy
Section 234DSection 244A

…ded from the refund granted while computing interest under section 244A. Learned Commissioner (Appeals), however, did not find merit in the submissions of the assessee, as according to him, the Hon'ble Supreme Court in Sandvik Asia Ltd. v/s CIT & Ors., [2006] 280 ITR 643 (SC), held that interest on refund was granted on the basis of equity and the 3 Tata Communications Limited Hon'ble Supreme Court, subsequently, in CIT v/s Gujarat Flours Chemicals, did not agree with its earlier decision in Sandvik Asia Ltd. (supra) and referred the matter to the Hon'ble Chief Justice of India for appropriate order. 4. The lea…

Bank of India, Mumbai vs. ACIT 2(1), Mumbai

The appeal is dismissed as not pressed

ITA 2885/MUM/2013[2003-04]Status: DisposedITAT Mumbai29 Jan 2016AY 2003-04

Bench: Shri R.C.Sharma (Am) & Shri Ram Lal Negi (Jm)

For Appellant: Shri. C.NareshFor Respondent: Shri. N.P.Singh
Section 115JSection 143(3)Section 154Section 244ASection 250Section 250(6)

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES “B”, MUMBAI BEFORE SHRI R.C.SHARMA (AM) AND SHRI RAM LAL NEGI (JM) ITA No.2883 to 2885/MUM/2013 Assessment Year: 2000-01 to 2001-02 & 2003-04 Bank Of India The Deputy Commissioner of 8th Floor, Star House, Income Tax- 2(1), Taxation Department, Aayakar Bhavan, Bandra-Kura Complex, Vs. Mumbai- 400020 Bandra (East) PAN : AAACB0472C (Appellant) (Respondent) Appellant by : Shri. C.Naresh Respondent by : Shri. N.P.Singh Date of Hearing: 17/12/2015 Date of Pronouncement: 29/01/2016 O R D E R PER RAM LAL NEGI, JM These appeals have been filed by the assessee…

Bank of India, Mumbai vs. DCIT 2(1), Mumbai

The appeal is dismissed as not pressed

ITA 2884/MUM/2013[2001-02]Status: DisposedITAT Mumbai29 Jan 2016AY 2001-02

Bench: Shri R.C.Sharma (Am) & Shri Ram Lal Negi (Jm)

For Appellant: Shri. C.NareshFor Respondent: Shri. N.P.Singh
Section 115JSection 143(3)Section 154Section 244ASection 250Section 250(6)

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES “B”, MUMBAI BEFORE SHRI R.C.SHARMA (AM) AND SHRI RAM LAL NEGI (JM) ITA No.2883 to 2885/MUM/2013 Assessment Year: 2000-01 to 2001-02 & 2003-04 Bank Of India The Deputy Commissioner of 8th Floor, Star House, Income Tax- 2(1), Taxation Department, Aayakar Bhavan, Bandra-Kura Complex, Vs. Mumbai- 400020 Bandra (East) PAN : AAACB0472C (Appellant) (Respondent) Appellant by : Shri. C.Naresh Respondent by : Shri. N.P.Singh Date of Hearing: 17/12/2015 Date of Pronouncement: 29/01/2016 O R D E R PER RAM LAL NEGI, JM These appeals have been filed by the assessee…