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TMI Blog2022 (1) TMI 1059X X X X Extracts X X X X X X X X Extracts X X X X ..... culated in the manner prescribed in section 244A of the Act itself. Since the provisions contained under section 244A of the Act has no ambiguity whatsoever the assessee is entitled for the interest on its refund upto the date of issuance of the refund voucher. This issue has already been examined and decided by the coordinate Benches of the Tribunal in favour of the assessee that assessee is entitled for interest on its refund upto the date of issuance of refund voucher in cases cited as Indo Gulf Corporation Ltd [ 2017 (1) TMI 1779 - ITAT MUMBAI] , [ 2011 (7) TMI 1322 - ITAT LUCKNOW] and [ 2019 (9) TMI 1626 - ITAT MUMBAI] and and Grasim Industries Ltd[ 2022 (1) TMI 955 - ITAT MUMBAI] We are of the considered view that Ld. CIT(A) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... est 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. 3. The Appellant craves leave to alter/add/modify/amend any or all of the grounds of appeal, if need be. 3. Briefly stated facts necessary for adjudication for the controversy at hand are that; assessee company is into the manufacturing of diversified products such as garments, t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 14, the AO granted interest on refund to the tune of ₹ 67,65,944/- under section 244A of the Act vide order dated 26.09.2018 read with order dated 31.05.2019 passed under section 154 of the Act. It is also not in dispute that AO has computed the interest under section 244A of the Act upto the date of signing of notice of the demand and not upto the date of issuance of refund voucher to the assessee. 8. In the backdrop of the aforesaid undisputed facts, when we examine the grounds raised by the assessee in both the appeals the short question arises for determination in both the appeals is; As to whether the assessee is entitled for the interest on its refund upto the date of signing of the notice of demand as has been held by t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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