2004 (1) TMI 9 - HC - Income Tax

Competency of Appeal - According to the assessee he is entitled to interest on the refund from the date of the payment of tax while the Revenue contends that the amount of refund is determined subsequently and it is from the subsequent date that he would be entitled to get interest if there is delay in payment - So far as the other assessment year (1995-96) is concerned learned counsel for the Revenue has rightly objected that there cannot be a consolidated appeal. As aforesaid the present appeal is taken to be an appeal qua assessment year 1994-95 only. It will be for the assessee to take suitable action in the matter pertaining to the assessment year 1995-96.

Summary

The High Court of Delhi admitted an appeal regarding interest on tax refund for the assessment year 1994-95. The court will examine the date for reckoning interest under section 244A(1)(b). The appeal is specific to the 1994-95 assessment year only, not for the subsequent year 1995-96. The appellant must file the paper book within three months.