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TMI Blog2014 (12) TMI 1193X X X X Extracts X X X X X X X X Extracts X X X X ..... eing disposed of by way of this consolidated order. The main issue involved in all the appeals is non granting of interest u/s 244A on the self assessment tax paid and secondly, imposes working of interest u/s 244 A, while granting refund to the assessee. For the sake of convenience cross appeals for the A.Y. 2003-04 is taken up first. 2. In ground No. 1, the assessee has challenged non granting of interest on self assessment tax. The assessee is a nationalized bank and in this year, the assessment was completed u/s 143(3), vide order dated 29.03.2005, whereby income was assessed at Rs. 15,09,60,13,850/-. The said order was subject matter of appeal before the Ld.CIT(A). After giving effect to the order of CIT(A) and while granting refund, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... interest of self assessment tax is maintainable in the proceedings u/s 154. So far as the issue, whether interest should be granted on the amount of self assessment tax paid is now covered by the decision of the Hon'ble Bombay High Court in the case of Stock Holdings Corporation of India (supra), wherein the Hon'ble High Court held that tax paid on self assessment would fall within the ambit of section 244A(i)(b). Accordingly the AO is directed to grant interest u/s 244A on the self assessment tax. Thus ground no. 1 as raised by the assessee is treated as allowed. 6. In Ground no. 2, the assessee has challenged the working of interest and the manner in which refund has been adjusted by the assessing officer as not correct. Ld couns ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ble Supreme Court in the case of CIT Vs. HEG 324 ITR 331, have laid down the principle as to how the part payment of refund and the interest on the balance amount is to be calculated. Thus the ground raised by the assessee is treated as partly allowed for statistical purpose. 9. In the revenue's appeal, ground raised is similar to ground no. 1 of the assessee's appeal, therefore, in view of the finding giving therein, the department ground is treated as dismissed. 10. In the result, the appeal filed by the Assessee is partly allowed for statistical purpose and the Revenue is dismissed. Appeal for A.Y. 2002-03 and 2006-07, 11. In these appeals, only one issue is raised which is similar to ground no. 2, raised by the assessee in t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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