9911796707
TMI Blog2014 (6) TMI 673X X X X Extracts X X X X X X X X Extracts X X X X ..... ndvik Asia Ltd [2006 (1) TMI 55 - SUPREME Court] decided in favor of assessee. - Writ Petition No. 5807 of 1999 - - - Dated:- 20-3-2014 - G. Chandraiah And Challa Kodanda Ram,JJ . For the Appellant : Sri P. Muralikrishna For the Respondent : Sri S. R. Ashok ORDER (Per Honble Sri Justice Challa Kodanda Ram) This writ petition has been filed seeking to declare the action of the 1st respondent in not paying the interest from 1.4.1987 to 22.12.1998 to the petitioner under Section 214 read with other provisions of the Income Tax Act (for short, the Act) for the income-tax assessment year 1984-85 in the consequential order dated 22.12.1998 as unconstitutional, illegal and consequently prays the Court to direct the responde ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ril of the assessment year to the date of making an order of assessment. 3. A detailed counter-affidavit has been filed by the 1st respondent Joint Commissioner of Income-tax (Assts.), Special Range-5, Hyderabad on his behalf and on behalf of other respondents as well, raising various contentions including the plea that the petitioner is not entitled for interest as the demand is hit by Order II Rule 2 of C.P.C. It was further contended that assuming, without conceding, that interest is payable, interest amount cannot be granted beyond the one contemplated by the Supreme Court in Modi Industries (supra). It was also further stated that the cause of action for the refund arose only when the Assessing Officer passed consequential order dat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ected to pay interest @ 9% per annum within a period of one month from the date of receipt of copy of the order, failing which the department shall pay a penal interest @ 15% per annum for the period mentioned in the said judgment. 5. Respectfully following the above cited judgments of the Supreme Court, the writ petition is allowed directing the respondents to pay the simple interest @ 9% per annum for the period i.e., from 31.03.1987 to 22.12.1998 to the petitioner within a period of two months from the date of receipt of copy of this order, failing which the respondents shall pay the penal interest @ 15% per annum for the above said period. No order as to costs. Miscellaneous Petitions, if any pending, in this writ petition shall s ..... X X X X Extracts X X X X X X X X Extracts X X X X
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