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| The Tax Publishers2020 TaxPub(DT) 4351 (Del-HC) INCOME TAX ACT, 1961
Section 244A
Considering the fact that prayer made by assessee was fair and reasonable, Revenue was directed to adjust refund of interest under section 244A due to the assessee against tax demand raised by PCIT and to pay the balance amount to the assessee.
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Refund - Interest - Adjestment of demand -
Assessee-company sought directions to revenue to release interest under section 244A due to it. Further, the assessee challenged an order passed by P. CIT directing the assessee to pay entire tax demand pertaining to disallowance made on account of 'other provisions' and provisions of contingencies pending the disposal of the appeal. Further, it was submitted on the behalf of the assessee that it had no objection if the amount directed to be deposited by the P. CIT was adjusted against the said refund of interest pending disposal of the appeal filed by the assessee and the balance amount was paid within reasonable time. Held: It was concluded that the prayer made by the assessee was fair and reasonable. Accordingly, the Revenue was directed to adjust the demand raised by PCIT against the refund of interest under section 244A and to pay the balance amount to the assessee.
REFERRED :
FAVOUR : Directions issued.
A.Y. :
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