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| The Tax Publishers2020 TaxPub(DT) 0699 (Bom-HC) INCOME TAX ACT, 1961
Section 244A
Decision given by though court in case of Stock Holding Corporation of India Ltd., v. CIT & Others (2015) 373 ITR 282 (Bom) : 2015 TaxPub(DT) 372 (Bom-HC) that assessee was entitled to interest under section 244-A on the refund of the excess self assessment tax paid.
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Interest on refund - Levy of - Interest on excess self assessment tax -
Revenue raised an appeal before this court that Tribunal was not justified in holding that interest under section 244A was to be allowed on the self assessment tax refunded to assessee without appreciating the fact that self assessment tax was voluntarily paid by assessee and not pursuant to a notice of demand issued under section 156 and as such, the assessee was not eligible for interest under section 244(1)(b). Held: Tribunal had held that assessee was entitled to interest under section 244-A on the refund of the excess self assessment tax paid by it by following the decision of this Court in Stock Holding Corporation of India Ltd., v. CIT & Others (2015) 373 ITR 282 (Bom) : 2015 TaxPub(DT) 372 (Bom-HC).
REFERRED :
FAVOUR : In assessee's favour
A.Y. :
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