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TMI Blog1983 (10) TMI 100X X X X Extracts X X X X X X X X Extracts X X X X ..... terest should be paid under section 244(2) of the Income-tax Act, 1961 ('the Act') as on the amount of interest under section 220(2) of the Act collected which became refundable. For these assessment years certain refunds became due to the assessee as a result of the order of the Supreme Court under section 263 of the Act. These amounts consisted of income-tax, penalty and interest under section 2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ected this on the ground that the words 'any amount' referred to under section 240 of the Act mean only tax and penalty levied. The assessee filed appeals before the AAC in respect of these three assessment years and the AAC held that the refund referred to in section 240 is of any amount that has become due to the assessee and would, therefore, include the interest under section 220(2) which beca ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... be diluted. It refers to section 240 and section 240 merely directs the refund of any amount that is due to an assessee. Such amount would include interest under section 220(2). If the intention is not to grant interest, on this amount, there would have been an express prohibition against it under section 244(1). 4. We consider that there is no reason to interfere with the orders of the AAC. Sec ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 240 refers to refund becoming due to an assessee as a result of any order passed in appeal or other proceedings under this Act. The refund of the interest under the proviso to section 220(2) may be considered to arise out of the order in appeal which is in this case the judgment of the Supreme Court. So it can be considered to arise out of the proceedings contemplated in the proviso to sub-section ..... X X X X Extracts X X X X X X X X Extracts X X X X
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