“interest on refund”

LIC HOUSING FINANCE LIMITED,MUMBAI vs. ACIT, MUMBAI

delay of 20 months. Therefore, the assessee claimed interest @ 6 %\non the refundable amount of Rs 11.16 cr.\n7.1 The assessee has claimed interest on refund on the principles of\nfairness and justice and denial of unjust enrichment. It has heavily relied on\nhon'ble jurisdictional High Court decision ... circular 11/2016\n(F.No.279/MISC./M-140/2015-ITJ] dated 26.4.2016 that Mr Gandhi\ntendered. It reads as under:\n\"2. The issue of eligibility for interest on refund of excess TDS to a tax deductor has\nbeen a subject matter of controversy and litigation. The Hon'ble Supreme Court of\nIndia

LIC HOUSING FINANCE LTD,MUMBAI vs. ACIT, MUMBAI

In the result, all the aforesaid appeals of the assessee are\nallowed

delay of 20 months. Therefore, the assessee claimed interest @6 %\non the refundable amount of Rs 11.16 cr.\n7.1 The assessee has claimed interest on refund on the principles of\nfairness and justice and denial of unjust enrichment. It has heavily relied on\nhon'ble jurisdictional High Court decision ... circular 11/2016\n(F.No.279/MISC./M-140/2015-ITJ) dated 26.4.2016 that Mr Gandhi\ntendered. It reads as under:-\n"2. The issue of eligibility of interest on refund of excess TDS to a tax deductor has\nbeen a subject matter of controversy and litigation. The Hon'ble Supreme Court of\nIndia

LIC HOUSING FINANCE LTD,MUMBAI vs. ACIT, MUMBAI

In the result, all the aforesaid appeals of the assessee are allowed

Bench: Shri Narender Kumar Choudhry & Shri Prabhash Shankar

delay of 20 months. Therefore, the assessee claimed interest @6 % on the refundable amount of Rs 11.16 cr. 7.1 The assessee has claimed interest on refund on the principles of fairness and justice and denial of unjust enrichment. It has heavily relied on hon’ble jurisdictional High Court decision ... circular 11/2016 (F.No.279/MISC./M-140/2015-ITJ] dated 26.4.2016 that Mr Gandhi tendered. It reads as under: "2. The issue of eligibility for interest on refund of excess TDS to a tax deductor has been a subject matter of controversy and litigation. The Hon'ble Supreme Court of India in the case

THERMO FISHER SCIENTIFIC INDIA P. LTD,MUMBAI vs. DCIT 15(3)(1), MUMBAI

refund under\nsection 244A of the IT Act despite the fact that the Appellant was not in receipt\nof any excess interest on refund.\nGround 15 - Interest levied under section 234D of the IT Act\nOn the facts and circumstances of the case and in law, the Learned DCIT

THERMO FISHER SCIENTIFIC INDIA P. LTD,MUMBAI vs. DCIT 15(3)(1), MUMBAI

refund under\nsection 244A of the IT Act despite the fact that the Appellant was not in receipt\nof any excess interest on refund.\nGround 15 - Interest levied under section 234D of the IT Act\nOn the facts and circumstances of the case and in law, the Learned DCIT

THERMO FISHER SCIENTIFIC INDIA P. LTD,MUMBAI vs. DCIT 15(3)(1), MUMBAI

refund under\nsection 244A of the IT Act despite the fact that the Appellant was not in receipt\nof any excess interest on refund.\nGround 15 - Interest levied under section 234D of the IT Act\nOn the facts and circumstances of the case and in law, the Learned DCIT

THERMO FISHER SCIENFTIFIC INDIA P. LTD,MUMBAI vs. DCIT 15(3)(1), MUMBAI

refund under\nsection 244A of the IT Act despite the fact that the Appellant was not in receipt\nof any excess interest on refund.\nGround 15 - Interest levied under section 234D of the IT Act\nOn the facts and circumstances of the case and in law, the Learned DCIT

JCIT CENT. CIR. - 1(4), MUMBAI vs. GRASIM INDUSTRIES LTD, MUMBAI

The appeal is allowed

Bench: Justice (Retd.) C V Bhadang & Ms Padmavathy S, Am

question No.2 we do not find that it is a substantial question of law. The Tribunal found that the Assessee Bank received interest on refund of taxes paid. It also paid interest on the taxes which were payable. The Assessee sought to set off the interest paid against the interest

BRIG RESOLUTION SERVICES PRIVATE LIMITED,MUMBAI vs. CIRCLE 14(1)(2), MUMBAI

In the result, the appeal of the assessee is allowed for In the result, the appeal of the assessee is allowed for In the result, the appeal of the assessee is allowed for statistical purposes

Bench: Shri Om Prakash Kant () & Shri Rahul Chaudhary () Assessment Year: 2020-21

been deducted subsequently. However, t deducted subsequently. However, the assessee could not he assessee could not be allowed the benefit of the interest on refund which arise be allowed the benefit of the interest on refund which arise be allowed the benefit of the interest on refund which arise

GOLDENCROSS PHARMA LIMITED,MUMBAI vs. DCIT, CIRCLE 7(1)(1) CURRENT JAO- DCIT, CENTRAL CIRCLE 1(2), MUMBAI

In the result, appeal of the assessee is allowed

Bench: Justice (Retd.) C. V. Bhadang & Shri Prabhash Shankargoldencross Pharma V/S. Deputy Commissioner Of Limited बनाम Income Tax, Circle 7(1)(1), Tower A, 1St Floor, Peninsula Current Jao-Dcit, Central Business Park, Ganpatrao Circle 1(2), Aaykar Bhavan, Kadam Marg, Lower Parel, Mk Road, Current Jao-906, Mumbai – 400013, 9Th Floor, Pratishtha Bhavan, Maharashtra Mk Road, Mumbai – 400020, Maharashtra स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aabcg0541J Appellant/अपीलार्थी .. Respondent/प्रतिवादी

assessee to the facts of the case. It is further stated by the ld.CIT(A) that section 244A of the Act provides for interest on refunds due to the assessee. However, there is no mandate under the Act or Rules that refunds when adjusted against the outstanding demand must first