9911796707
TMI Blog2011 (11) TMI 103X X X X Extracts X X X X X X X X Extracts X X X X ..... 1. The petitioner, an income tax assessee, has prayed in this writ petition that excess TDS (Tax Deducted at Source) by LIC on maturity of policies paid to him, in his case amounting to Rs.19,083/- for the assessment year 1994-95 was initially not refunded as per return of income filed by him as there was delay of four days only in filing such return income, which was due to be filed on or before 31.03.1996, under Section 139 (4) of the Act, but the same was filed on 04.04.1996. 2. Learned Chief Commissioner of the Income Tax, Udaipur, vide order Annex-4 dated 14.11.2005 condoning the said delay of four days, in his power delegated upon it under Section 119 (2) (b) of the Act, condoned the said delay, and directed the Assessing Author ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... such order is passed, the Central Government shall pay to the assessee simple interest at fifteen per cent per annum on the amount of refund due from the date immediately following the expiry of the period of three months aforesaid to the date on which the refund is granted. 244A- Interest on refunds. (1) Where refund of any amount becomes due to the assessee under this Act, he shall, subject to the provisions of this section, be entitled to receive, in addition to the said amount, simple interest thereon calculated in the following manner, namely: - (a) where the refund is out of any tax paid under Section 115WJ or collected at source under section 206C or paid by way of advance tax or treated as paid under Section 199, during the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... est shall be calculated @ % every month, viz. 6% p.a. The tax deducted at source from the insurance maturity value of the assessee in the present case by the Life Insurance Corporation of India was undoubtedly advance payment of tax on his behalf and refund claim made in the return filed by the assessee, require no further claim to be made by him; and, therefore, in the opinion of this Court, Section 244 of the Act would apply in the present case, which envisages processing of refund claims where no such claim is required to be made by the assessee. 7. The Revenue clearly admits its liability to make refund of the excess TDS in the present case and fact that said refund has been granted to the assessee with a delay of about ten years, i ..... X X X X Extracts X X X X X X X X Extracts X X X X
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