2001 (2) TMI 875

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... is directed against the order of the learned Commissioner of Income-tax (Appeals) - V, Hyderabad. The only point raised in the present appeal is regarding the interest under section 244(1A) on the amount of refund of interest levied under section 217. 2. The assessee was given refund of Rs. 1,06,515 by the Income-tax Department. The said refund represented the amount of interest levied under sec .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... 4(1A) on the amount of refund even if it was refund of interest levied under section 217. For this, he relied upon the decision of the Honourable Madras High Court in the case of CIT v. Needle Industries Pvt. Ltd., reported in 233 ITR 370. He further relied upon the decision of the Honourable Kerala High Court in the case of CIT v. Ambat Echukutty Menon, reported in [1988] 173 ITR 581 and pleaded .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... der section 244(1A), interest on any other sum cannot be allowed. 5. We have heard the rival submissions and have gone through the orders passed and the case laws cited before us. We find that the case of the assessee is squarely covered by the decision of the Honourable Madras High Court in the case of Needle Industries Pvt. Ltd. (supra) and the assessee was entitled to interest on the amount o .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X