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TMI Blog2021 (5) TMI 4X X X X Extracts X X X X X X X X Extracts X X X X ..... of the Act on the self assessment tax paid. For this assessee has raised the following grounds:- "On the facts and circumstances of the case and in law, the learned CIT(A), erred in upholding the decision of the learned AO in not granting to the Appellant, interest under section 244A of the Act on the self-assessment tax paid, on the basis that the issue under consideration is contentious, and, therefore, not rectifiable under section 154 of the Act. The learned CIT(A), while upholding the order of the learned AO, has erred in disregarding the decision of the Hon'ble Supreme Court of India and the Hon'ble Jurisdictional High Court on the issue under consideration." 3. Brief facts are that the AO while giving effect to the order of Hon'bl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... for the assessee Shri Sunil M. Lala stated that the issue is squarely covered by the Jurisdictional high court in the case of Stock Holding Corporation of India Ltd. Vs. N.C. Tewari (2015)(373 ITR 282)(Bom.), wherein Hon'ble High Court after discussing the provision of section 244A(1) of the Act held that it is not covered under sub clause (a) of this provision but duly fall under sub clause (b) i.e. residuary clause fall under section 244A(1) of the Act. According to Hon'ble Supreme Court even self assessment tax attracts interest under section 244A(1)(b) of the Act. The relevant assessment year involved in appeal before us is 2004-05 and it is pre-amended year, when this fact was confronted to the learned Sr. DR, he only rely on the orde ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as under :- 11.4 The provisions of the new section 244A are as under:- (i) Sub-section (1) provides that where in pursuance of any order passed under this Act, refund of any amount becomes due to the assessee then- (a) if the refund is out of any advance tax paid or tax deducted at source during the financial year immediately preceding the assessment year, interest shall be payable for the period starting from the 1st April of the assessment year and on the date of grant of the refund. No interest shall, however, be payable, if the amount of refund is less than 10 per cent of the tax determined on regular assessment; (b) if the refund is out of any tax, other than advance tax or tax deducted at source or penalty, interest shall be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n any other case....". The words used in Section 244A(1) of the Act are clear inasmuch as it provides that refund of any amount that become due to any assessee under the Act will entitle the assessee to interest. In any case in the present facts, the amount on which the refund is being claimed was originally paid as tax on self-assessment under Section 140A of the Act and evidence of the same in the form of challan was enclosed to the Return of Income. In fact when the Assessing Officer passed the Assessment Order on 31 December 1996, he accepted the entire amount paid as tax on self assessment as a payment of tax. One more feature to be noticed is that when any refund becomes due to an assessee out of tax paid, it becomes so only after hol ..... X X X X Extracts X X X X X X X X Extracts X X X X
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