M/s Modi Builders AND Realtors (P) Ltd., vs. Asst. Commissioner of Income tax,

The appeals are disposed of

Bench: P.SAM KOSHY,NARSING RAO NANDIKONDA

245 ITR 606 and it was held that interest should be awarded on the interest component of the unpaid refund. Recently in Motor and General Finance Limited versus Commissioner of Income Tax and other cases reported in [2010] 320 ITR 88 (Delhi) reference was made to the decision of the Supreme Court in Sandvik Asia Limited versus

Commissioner of Income Tax-III, vs. M/s Sree Rayalaseema Green Energy Limited,

section 271(1)(c) are being initiated separately.” 7. This is the entire discussion on the said addition, in the assessment order. The amounts in question are substantial. The Assessing Officer must discuss the facts before he affirms his final ITA No. 439/2013 Page 4 of 5 conclusion, especially when significant additions are made creating tax liability. 8. CIT(Appeals