Law:

Section:

Section 244A of the Income-tax Act, 1961 - Refunds - Interest on - Whether refund of tax is granted moment concerned officer signs order regarding payment of interest under section 244A and interest should be granted till that date only- Held, yes Words and phrases: W ords 'refuned is granted' as occurring in section 244A(1)(a) of the Income-tax Act, 1961. FACTS In the instant appeal, the assessee raised a question as to whether the expression 'the date on which the refund is granted in section 244A(1)(a), needed to be construed to the date of service of the refund order, and as to whether the belated despatch of refund order was against the legislative intendment as contemplated under section 244A and entitled the assessee for interest on the refund amount under section 244A and also on equitable consideration till the date of service of refund order. HELD The limited controversy in this appeal was as to whether the interest should be granted till the date of the despatch of the refund order or till the date when the order regarding payment of interest had been signed. In clause (a) of section 244A(1) the words have been used "refund is granted". Refund is granted the moment the concerned officer has signed the order regarding payment of the interest under section 244A. Thus, there was no error in the order of the Tribunal. The appeal stood dismissed at admission stage. Note : The case was decide in favour of the revenue. R.K. Agarwal for the Appellant. JUDGMENT The following questions are raised as questions of law by the appellant in this appeal : "(i) Whether the expression 'the date on which the refund is granted' in clause (a) of sub-section (1) of section 244A, as was applicable in the relevant assessment year, in the facts and circumstances of the case, need to be construed to be the date of service of the…

Deprecated: trim(): Passing null to parameter #1 ($string) of type string is deprecated in /home/digixyei/sldsystempk.com/view/master-layout/view_case.php on line 492