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TMI Blog2022 (1) TMI 955X X X X Extracts X X X X X X X X Extracts X X X X ..... resent appeal is confined to disallowance of deduction claimed under section 80IA of the Income Tax Act, 1961. 3. Briefly the facts are, the assessee is a resident company engaged in manufacturing of staple fibre, chemicals and textiles. For the assessment year under dispute, assessee filed its return of income on 28-11-2014 declaring loss of Rs. 2,27,58,89,913/- under the normal provisions of the Act and book profit of Rs. 7,93,49,65,128/- under section 115JB of the Act. Subsequently, the assessee filed a revised return of income on 15-04-2015 declaring loss at Rs. 1,91,77,39,873/-. Assessment in case of the assessee was originally completed under section 143(3) r.w.s. 144C(13) of the Act vide order dated 30-12-2016 determining the total ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... has already been decided by my Ld. Predecessor order dated- 06.08.2018, the AO is directed to follow the directions of the Ld.ClT(A) and pass an appropriate order in this regard." 4. The learned counsel for the assessee submitted, the issue is no more res integra in view of the decision of the Hon'ble Supreme Court in case of CIT vs Reliance Energy Ltd (2021) 127 taxmann.com 69 (SC). Proceeding further, he submitted, while deciding identical issue, the Hon'ble Supreme Court has held that deduction under section 80IA has to be allowed on the gross total income which includes income under all the heads. Further, he submitted, the assessing officer in the order passed giving effect to the order of learned Commissioner (Appeals) has allowed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... -13) 8. The effective grounds raised by the assessee in this appeal are as under:- "1. On the facts and in the circumstances of the case and in law, the learned CIT(A) erred in confirming the order of the learned AO of not granting interest u/s. 244A in accordance with the provisions of the Act. 2. On the facts and in the circumstances of the case and in law, the learned CIT(A) erred in confirming the order of the learned AO in not allowing the interest u/s. 244A of the Act upto the date of issue of refund cheque in terms of binding CBDT circular No. 20D (XXII-22) dated 20.08.1968 wherein instructions have been given for calculating interest upto the date of issue of refund voucher." 9. Briefly the facts are, against the assessment o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ected the claim of the assessee. Against the order passed under section 154 of the Act, assessee preferred appeal before learned Commissioner (Appeals). After considering the submissions of the assessee, learned Commissioner (Appeals) agreed with the assessing officer. He observed, since the refund has to be issued through online refund banker scheme and the amount is directly credited to assessee's bank account, the process of issuing refund takes 10 to 15 days. Therefore, since there is no delay in issuing the refund from the date of the order, assessee is not entitled to interest till the date of issuance of refund cheque. 10. We have considered rival submissions and perused materials on record. Undisputedly, order granting refund was p ..... X X X X Extracts X X X X X X X X Extracts X X X X
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