2012 (8) TMI 978

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ehalf of both the parties that similar issue has already been decided by this Court against the Revenue in D.B. Income Tax Appeal No. 264/2011 vide judgment dated 08.05.2012. Following order was passed: 'The question which arises for consideration is about the payment of allowability of interest u/s.244A(1)(b) on excess payment u/s.140A(3) of the Income Tax Act. The I.T.A.T. has discussed the .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... 94 ITR 438in which it was held that refund arising on account of payment of self tax assessment is eligible for interest purpose since the Govt. was liable to pay interest to the excess amount refunded to the assessee. Hon'ble Madras High Court has relied upon the Hon'ble Supreme Court judgment in the case of Sandvik Asia Ltd. v. CIT 280 ITR 643. Similar view has also been taken by Hon' .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... s based on the various decisions including the decision of the Apex Court in the case of Sandvik Asia Ltd. v. CIT 280 ITR 643and, other decision in the case of Modi Ind Ltd. v. CIT 216 ITR 759. The decisions of the High Courts of Madras, Karnataka and Delhi have also been relied upon. We do not find any ground to take a different view of the matter. Consequently, the appeal, being bereft of meri .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X