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TMI Blog2024 (4) TMI 857X X X X Extracts X X X X X X X X Extracts X X X X ..... im under Sub-Section 3. Accordingly, the period of limitation for claiming interests on the delayed payment would be three years from the expiry of 90 days. Since the refund was delayed, for every passing month the interest accrued @1.5% per month. Accordingly, with every passing month with effect from the commencement of the period of limitation, interest for the preceding one month in the block of three years would extinguish and interest for succeeding one month would accrue. Petitioner would be entitled to interest for a period of three years immediately preceding the filing of the subject petition till the date payment was made of the petitioner. Since the delay is beyond the period of one month as provided under Section 30 (4), the ra ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... half for any year exceeds the amount payable by him under this Act for that year, he shall, on making a claim in the prescribed form and verified in the prescribed manner, be entitled to refund of the excess either by cash payment or at his option by deduction of such excess from the amount of tax and penalty (if any) due in respect of any other period: Provided that the Commissioner shall first apply such excess towards the recovery of any amount in respect of which a notice under section 25 has been issued and shall then refund the balance, if any. Explanation . - When no assessment is made, the due tax paid under section 21 by the dealer shall be deemed to be the tax payable under this Act. (2) Where on account of death, incapacity, inso ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ub-section is attributable to the person making the claim, whether wholly or in part, the period of the delay attributable to him shall be excluded from the period for which interest is payable. (5) Where any question arises as to the period to be excluded for the purposes of calculation of interest under sub-section (4), such question shall be determined by the Commissioner whose decision thereon shall be final. (6) Where an order giving rise to a refund is the subject matter of an appeal or further proceeding or where any other proceeding under this Act is pending and the Commissioner is of opinion that the grant of the refund is likely to adversely affect the revenue, the Commissioner may withhold the refund till such time as the Commiss ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ourt by way of subject petition on 19.08.2019. 7. Section 30 (4) of the Act stipulates that where any amount required to be refunded by the Commissioner to any person as a result of any order passed in appeal or other proceedings under the Act, is not refunded to him within 90 days from the date of his claim under Sub-Section 3, said person is entitled to simple interest @1% per month from the date immediately following the expiry of period of 90 days for a period of one month and @ 1.5% per month thereafter so long as the refund is not made. In terms of explanation to 30 (4), if the delay in making the refund is attributable to the person making a claim, said period of delay attributable to such person is to be excluded from the period for ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nder Sub-Section 3. Accordingly, the period of limitation for claiming interests on the delayed payment would be three years from the expiry of 90 days. Since the refund was delayed, for every passing month the interest accrued @1.5% per month. Accordingly, with every passing month with effect from the commencement of the period of limitation, interest for the preceding one month in the block of three years would extinguish and interest for succeeding one month would accrue. 13. Applying the said principles, we are of the view that petitioner would be entitled to interest for a period of three years immediately preceding the filing of the subject petition till the date payment was made of the petitioner. Since the delay is beyond the period ..... X X X X Extracts X X X X X X X X Extracts X X X X
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