9911796707
TMI Blog2024 (12) TMI 262X X X X Extracts X X X X X X X X Extracts X X X X ..... of the petitioner to the amount of refund. For the delayed payment, the petitioner is entitled to interest on the refund amount for the delay beyond the period of 90 days from the date of refund order i.e. 20.09.2022.Consequently, the writ petition is allowed. It is directed that respondents shall make payment of refund of Rs. 2,19,42,954/- along with interest @ 6% per annum on the delayed refund amount with effect from 20.12.2022 i.e. beyond the period of 90 days from the date of determination of refund amount on 20.9.2022 till the date of actual payment to the petitioner. The entire amount of refund and interest be paid within a period of eight weeks from the date of this order. - Hon'ble Arun Bhansali, Chief Justice And Hon'bl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d assessment order dated 18.11.2013 was challenged by the petitioner before the Income Tax Appellate Tribunal ( I.T.A.T. ), which by order dated 29.2.2016 dismissed the appeal filed by the petitioner. The order passed by the I.T.A.T. dated 29.2.2016 was challenged before this Court by filing Income Tax Appeal No. 26 of 2018. 5. In the meanwhile, the Central Government notified the VSV Act, 2020 to provide for resolution of tax disputes. The petitioner by submitting Form 1 2 dated 8.3.2021 applied for the settlement of disputed tax for F.Y. 2008-09 under the VSV Act, 2020 inter-alia indicating the amount payable under the VSV Act, 2020 at Rs. 6,05,387/-. The application made by the petitioner was accepted and certificate in Form 3 was issued ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the petitioner made submissions that the plea raised by the respondents by sending communication dated 19.11.2024 is de-hors the provisions of the VSV Act, 2020 and Act, 1961. 11. Submission has been made that the petitioner is seeking refund based on the provisions of VSV Act, 2020 whereby Form 5 indicating the amount refundable has been issued way back on 20.9.2022 and the respondents are bound to return the amount based on the said Form 5 along with interest under Section 244A of the Act, 1961 and the plea raised pertaining to the submission of Form 26B for seeking refund has been raised only with a view to deprive the petitioner of interest to which it is otherwise entitled. 12. Reliance has been laid on Dwejesh Acharya v. Income-tax O ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... requirement of filling up the Form 26B was long over in the year 2008-09 itself and the present refund was being sought by the peititoner in terms of the provisions of the VSV Act, 2020, which did not require filling up any Form, as claimed by the respondents and as such, the demand made has no sanction in law. 18. So far as the demand made by the petitioner with regard to interest is concerned, the Delhi High Court in the case of Ms. Anjul v. Office of PCIT : [2022] 145 taxmann.com 140 while relying on judgment of Hon'ble Supreme Court in Union of India v. Tata Chemicals Limited : (2014) 6 SCC 335 held that the State having received the money without right and having retained and used it, is bound to make the party good, just as an in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the VSV Act, 2020 and nothing to do with the entitlement to interest for the period after issuance of Form No.5 indicating entitlement of the petitioner to the amount of refund. 23. In view of the above discussion, for the delayed payment, the petitioner is entitled to interest on the refund amount for the delay beyond the period of 90 days from the date of refund order i.e. 20.09.2022. 24. Consequently, the writ petition is allowed. 25. It is directed that respondents shall make payment of refund of Rs. 2,19,42,954/- along with interest @ 6% per annum on the delayed refund amount with effect from 20.12.2022 i.e. beyond the period of 90 days from the date of determination of refund amount on 20.9.2022 till the date of actual payment to ..... X X X X Extracts X X X X X X X X Extracts X X X X
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