9911796707
TMI Blog2024 (10) TMI 518X X X X Extracts X X X X X X X X Extracts X X X X ..... ing the documents on record and the judgment of the Hon'ble jurisdictional High Court placed on record and come out with a speaking order as per law complying with the principles of natural justice. Assessee also relied on the decision of Koninklijke Philips N.V. [ 2023 (1) TMI 1198 - ITAT KOLKATA ] wherein it was held that interest u/sec. 244A has to be granted up to the date when the actual refund was received. The NFAC shall take cognizance of this proposition while deciding the matter. We set aside the order of NFAC and remand the matter back to its file as per our afore stated directions. The grounds of appeal stands allowed for statistical purposes. - SHRI PARTHA SARATHI CHAUDHURY, JUDICIAL MEMBER DR. DIPAK P. RIPOTE, ACCOUNTANT ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t from the date of the filing of the return. 4] The assessee further submits that the learned CIT(A) erred in not appreciating that the interest u/s 244A was granted till the date of passing the order u/s 143(1) without appreciating that the interest u/s 244A should have been granted till the date of refund being credited to the account of the assessee. 5] The learned CIT(A) further erred in not deleting the levy of interest u/s 234D since the same was not leviable on the facts of the case. 6] The appellant craves leave to add, alter, amend or delete any of the above grounds of appeal. 2. The relevant facts are that the assessee is a charitable trust, entitled for exemption u/sec. 11 of the Act. That, for the relevant year assessee had file ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ectification application filed by the assessee. In that rectification order, the AO has stated that assessee trust had filed return of income on 05/10/2018 i.e. after the due date for filing the return u/sec. 139(1) of the Act. Further, the AO had mentioned that since the assessee had filed the return on 05/10/2018, the interest u/sec. 244A was to be calculated from 05/10/2018 till 16/11/2019 i.e. the date of order passed u/sec. 143(1). 3. It is the contention of the assessee that the AO was not justified in granting interest from 05/10/2018 as against the claim of the assessee that the same should have been granted from 01/04/2018. It is correct that the assessee had filed return of income on 05/10/2018 and now for the year under considera ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ntioned at 62,07,635/- at column 61 of the assessment order. 5. In this factual scenario, the NFAC in its order at para 5.7 had observed that the assessee without proving that the TDS deducted even remitted to the credit of the central Govt. seeks interest u/sec. 244A of the Act. We are of the considered view that the NFAC had passed this order and observation in a very general and cryptic manner without even appreciating the documents on record namely the intimation u/sec. 143(1) and the assessment order u/sec. 143(3) of the Act. That, it is clearly evident that the Department itself has given effect to the TDS and even also calculated the interest payable to the assessee u/sec. 244A of the Act. The grievance was only with respect to the q ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... scribed under section 244A of the Act. Therefore, it is sacrosanct and clear that as per the provision, the interest u/sec. 244A has to be calculated from 1st April at the rate of 6% p.a. which is the rate prescribed u/sec. 244A of the Act. We are, therefore, of the considered view considering these facts and circumstances that the matter should be remitted to the file of the NFAC for de novo adjudication considering the documents on record and the judgment of the Hon'ble jurisdictional High Court placed on record and come out with a speaking order as per law complying with the principles of natural justice. The ld. counsel for the assessee also relied on the decision of the coordinate bench, Kolkata in the case of Koninklijke Philips N ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
