Adurjee & Bros. P. Ltd, Pune V. DCIT, Pune

ITA 2303/PUN/2012

• Counselvise Citation: [2013] 140 COUNSELVISE.COM (IT) 72445 (ITAT-PUNE)
• Duration Of Justice: 1 year(s) 1 month(s) 1 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 24-12-2013
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: A
• Next Hearing Date: 18-12-2013
• Assessment Year: 2007-2008
• Appeal Filed On: 22-11-2012
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: P L PATHADE
• Assessee Lawyers: R D ONKAR

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH A, PUNE BEFORE SHRI SHAILENDRA KUMAR YADAV, JUDICIAL MEMBER, AND SHRI G.S. PANNU, ACCOUNTANT MEMBER ITA NO.2303/PN/2012 A.Y. 2007-08 ADURJEE & BROS. PVT. LTD., SAROSH BHAVAN, 16-B/1, DR. AMBEDKAR ROAD, PUNE 411001 PAN: AABCA4890J APPELLANT VS. ACIT, CIRCLE 1(1), PUNE RESPONDENT APPELLANT BY : SHRI R.D. O NKAR RESPONDENT BY : SHRI P.L . PATHADE DATE OF HEARING: 20.12.2013 DATE OF ORDER : 24.12.2013 ORDER PER SHAILENDRA KUMAR YADAV, J.M: THIS APPEAL HAS BEEN FILED BY THE ASSESSEE AGAINST THE ORDER OF COMMISSIONER OF INCOME TAX (APPEAL)-I, [SHORT CI T(A)-I] PUNE, DATED 14.06.2012 FOR A.Y. 2007-08 ON THE FOLLOWING GROUNDS. ON THE FACTS AND CIRCUMSTANCES OF THE CASE AND IN L AW THE LEARNED 'CIT (A)' ERRED IN: 1. ON THE FACTS AND CIRCUMSTANCES OF THE CASE AND IN L AW, THE LEARNED 'CIT (A)' RELYING ON EXPLANATION TO SE CTION 244A(L)(B) ERRED IN NOT GRANTING INTEREST U/S.244 A ON THE REFUND ARISING OUT OF PAYMENT OF SELF ASSESSMENT TAX FROM THE DATE OF PAYMENT OF SUCH SELF ASSESSMENT TAX TIL L THE DATE OF GRANT OF REFUND. THE CLAIM OF THE APPELLANT BE A LLOWED. 2. THE APPELLANT CRAVES LEAVE TO ADD/ ALTER/ WITHDRAW ANY OF THE 'GROUNDS OF APPEAL' AT THE TIME OF APPEAL PR OCEEDINGS. 2 2. AT THE OUTSET OF HEARING, IT WAS POINTED OUT TH AT THE ISSUE BEFORE US IS REGARDING SIMPLE INTEREST U/S.244A(1)( B) ON ACCOUNT OF REFUND OF RS.6,25,866/- THAT HAS ARISEN ON ACCOU NT OF SELF ASSESSMENT TAX U/S.140A OF THE I.T ACT. THE HONBL E MADRAS HIGH COURT IN THE CASE OF CIT VS. CHOLAMANDALAM INV ESTMENT & FINANCE CO. LTD., REPORTED IN (2007) 294 ITR 438 (M AD) HAS HELD THAT INTEREST U/S.244A(1)(B) BEING IN RESPECT OF AN Y OTHER TAX CASE IS APPLICABLE EVEN FOR REFUND OF SELF ASSESSMENT TA X PAID U/S.140A AND THE SAID DECISION IN THE CASE OF CHOLA MANDALAM INVESTMENT & FINANCE CO. LTD. (SUPRA) HAS NOT BEEN DISTURBED BY THE HONBLE SUPREME COURT. IN VIEW OF THE ABOVE, T HE ASSESSING OFFICER IS DIRECTED TO GRANT INTEREST TO THE ASSESS EE AS PER THE PROVISIONS OF SECTION 244A(1)(B) OF I.T. ACT AS DIS CUSSED. 3. IN THE RESULT, APPEAL FILED BY ASSESSEE IS ALLOW ED. PRONOUNCED IN THE OPEN COURT ON THIS THE DAY 24 TH OF DECEMBER, 2013. SD/- SD/- (G.S.PANNU) (SHAILENDRA KUMAR YADAV) ACCOUNTANT MEMBER JUDICIAL MEMBER PUNE, DATED: 24 TH DECEMBER 2013 GCVSR COPY TO:- 1) ASSESSEE 2) DEPARTMENT 3) THE CIT(A)-I, PUNE 4) THE CIT-I, PUNE 5) THE DR, A BENCH, I.T.A.T., PUNE. 6) GUARD FILE BY ORDER //TRUE COPY// SENIOR PRIVATE SECRETARY, I.T.A.T., PUNE