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TMI Blog2020 (11) TMI 226X X X X Extracts X X X X X X X X Extracts X X X X ..... sed by the CIT-A and the Tribunal are set aside only on the aspect indicated above and the matter is remanded to the CIT(A) to consider whether under explanation to Section 140A(1), it is stipulated where the amount paid by an assessee under self-assessment falls short of the aggregate amount of tax and interest aforesaid, the amount paid shall first be adjusted towards the interest payable and the balance, if any, shall be adjusted towards the tax payable. - T.C.A.No.107 of 2020 And C.M.P.No.3833 of 2020 - - - Dated:- 14-10-2020 - Mr. Justice T.S. Sivagnanam And Mrs. Justice V. Bhavani Subbaroyan For the Appellant : Mr.R.Vijayaraghavan for M/s.Subbaraya Aiyar Padmanabhan For the Respondent : Mr.T.Ravikumar Senior Standing cou ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ly, the assessment was reopened by issuance of notice dated 28.03.2012 under Section 148 of the Act and the re-assessment was completed by order dated 06.11.2012. This order was put to challenge by the assessee before the Commissioner of Income Tax (Appeals) [CIT(A)] who by order dated 25.12.2013 directed the Assessing Officer to work out the interest under Section 244A of the Act till the date of refund including the self assessment tax paid under Section 140A of the Act. The Assessing Officer passed a giving effect to order dated 31.01.2014. This order according to the assessee is incorrect because the adjustment of interest was not done in a proper manner. Therefore, appeal was filed before the CIT(A), who dismissed the appeal by order d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in the case of Commissioner of Income Tax, Gujarat vs. Gujarat Fluoro Chemicals [(2013) 58 ITR 291(SC)] , wherein it was held that for delay in refund to assessee, it is only interest provided for under statute which may be claimed by an assessee; only for inordinate delay of decades compensation is to be paid. Thus, it is the submission of Mr.T.Ravikumar, learned Senior Standing Counsel that other than interest payable under Section 244A of the Act no other interest on such statutory interest is payable by the revenue. Reliance was also placed on the decision of this Court in the case of Commissioner of Income Tax vs. Brakes India Limited [(2014) 361 ITR 0424 (Mad)] [to which one of us, T.S.S.J. is a party], wherein the Court follow ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... [(2015) 375 ITR 0056(Delhi)] , wherein the Court followed the decision in Sandvik Asia Ltd. vs. Commissioner of Income Tax and others [(2006) 280 ITR 643] as well as the decision of the Hon'ble Supreme Court in the case of Gujarat Fluoro Chemicals and held that the payment of any sum over and above the interest payable under Section 244A(1) of the Act to the assessee cannot be upheld. 8.Mr.R.Vijayaraghavan, learned counsel appearing for the appellant/assessee submitted that the assessee is not claiming any interest on interest and the assessee accepts the legal position as mentioned by Mr.T.Ravikumar and laid down in the aforementioned three decisions, however, their plea before the CIT(A) and before the Tribunal was with r ..... X X X X Extracts X X X X X X X X Extracts X X X X
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