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TMI Blog2022 (6) TMI 116X X X X Extracts X X X X X X X X Extracts X X X X ..... been granted requisite relief without any dispute by the learned Assessing Officer therefore, we do not find that it needs any interference from our side. Accordingly, ground no. 1 of the appeal is dismissed. Short grant of interest under section 244A - Grant of refund till the date of issue of refund - HELD THAT:- As relying on Pfizer Limited [ 1991 (3) TMI 121 - BOMBAY HIGH COURT ] relying on case of CIT vs. Pfizer Limited we direct the learned Assessing Officer to allow interest up to the date of issue of refund under Section 244A of the Act. Accordingly, ground no. 2 of the appeal is allowed. - ITA No. 107/Mum/2022 - - - Dated:- 23-5-2022 - SHRI PRASHANT MAHARISHI , AM AND SHRI RAHUL CHAUDHARY , JM Assessee by : Shri H ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... stances of the case and in law, the Hon'ble CIT(A) has erred in not allowing interest under section 244A of the Act, on refund, up to the date of refund cheque. b) The Appellant submits that the learned AO be directed to recompute and grant interest under section 244A of the Act, up to the date of issue of refund cheque and in accordance with law. The Appellant craves leave to add, alter, amend, substitute or withdraw the above ground of appeal and to submit such statements, documents and papers as may be considered necessary at any time before or at the time of the appellate hearing. The Appellant prays that appropriate relief be granted based on the said ground of appeal and the facts and circumstances of the case. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... al. 4. The learned Authorized Representative submitted that the business loss is required to be determined by the learned Assessing Officer for carry forward. The order of the learned Assessing Officer is silent on that. On the issue of grant of refund till the date of issue of refund, it was submitted that the issue is squarely covered in favour of the assessee vide the decisions of Hon'ble Bombay High Court in case of CIT vs. Pfizer Limited [1991] 191 ITR 626 (Bom) and also of City bank NA Mumbai Vs. CIT in ITA No. 6 of 2001 as well as the decision of CIT vs. K.E.C. International in ITA No. 1038 of 2000. It is further stated that in assessee's own case for AY 1999-2000 in ITA No. 7096/Mum/2016, the co-ordinate Bench has dealt w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... relief without any dispute by the learned Assessing Officer therefore, we do not find that it needs any interference from our side. Accordingly, ground no. 1 of the appeal is dismissed. 8. With respect to ground no. 2, we find that the issue is squarely covered in favour of the assessee by the decision of Hon'ble Bombay High Court as well as assessee's own case for Assessment Year 1999-2000. In view of this, we direct the learned Assessing Officer to allow interest up to the date of issue of refund under Section 244A of the Act. Accordingly, ground no. 2 of the appeal is allowed. 9. In the Result, the appeal filed by the assessee is partly allowed. Order pronounced in the open court on 23.05.2022. - - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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