RAJASTHAN RAJYA VIDYUT PRASARAN NIGAM LTD., Jaipur V. ASSISTANT COMMISSIONER OF INCOME TAX, Jaipur

ITA 24/JPR/2018

• Counselvise Citation: [2018] 126 COUNSELVISE.COM (IT) 2048 (ITAT-JAIPUR)
• Duration Of Justice: 1 month(s) 23 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 28-02-2018
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: B
• Assessment Year: 2009-2010
• Appeal Filed On: 05-01-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: SHAN MUGA PRIYA JT CIT DHK
• Section: 244A

Judgement Text

VK;DJ VIHYH; VF/KDJ.K] T;IQJ U;K;IHB] T;IQJ IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES, JAIPUR JH FOT; IKY JKO] U;KF;D LNL; ,OA JH HKKXPAN] YS[KK LNL; DS LE{K BEFORE: SHRI VIJAY PAL RAO, JM & SHRI BHAGCHAND, A M VK;DJ VIHY LA-@ ITA NO. 24/JP/2018 FU/KZKJ.K O'KZ@ ASSESSMENT YEAR : 2009-10 M/S RAJASTHAN RAJYA VIDYUT PRASARAN NIGAM LTD., VIDYUT BHAWAN, JAN PATH, JYOTI NAGAR, JAIPUR. CUKE VS. A.C.I.T., CIRCLE-6, JAIPUR. LFKK;H YS[KK LA-@THVKBZVKJ LA-@ PAN/GIR NO.: AABCR 8312 A VIHYKFKHZ@ APPELLANT IZR;FKHZ@ RESPONDENT FU/KZKFJRH DH VKSJ LS@ ASSESSEE BY : SHRI P.C. PARWAL (CA) JKTLO DH VKSJ LS@ REVENUE BY : SRI SHAN MUGA PRIYA (JT.CIT) LQUOKBZ DH RKJH[K@ DATE OF HEARING : 28/02/2018 MN?KKS'K.KK DH RKJH[K @ DATE OF PRONOUNCEMENT : 28/02/2018 VKNS'K@ ORDER PER: BHAGCHAND, A.M. THIS IS AN APPEAL FILED BY THE ASSESSEE EMANATES FR OM THE ORDER OF THE LD. CIT(A)-2, JAIPUR DATED 17/10/2017 FOR THE A. Y. 2009-10. THE ONLY ISSUE INVOLVED IN THE APPEAL IS REGARDING NOT ALLOWING INTEREST U/S 244A OF THE INCOME TAX ACT, 1961 (IN SHORT THE ACT) FOR THE PERIOD JANUARY, 2012 TO JUNE, 2012 BY NOT ACCEPTING THE CO NTENTION OF THE ASSESSEE THAT INTEREST IS PAYABLE UP TO THE DATE OF ISSUE OF REFUND VOUCHER. ITA 24/JP/2018 M/S RAJASTHAN RAJYA VIDYUT PRASARAN NIGAM LTD. VS ACIT 2 2. THE BENCH HAVE HEARD BOTH THE SIDES ON THIS ISSUE . SUCH ISSUE HAS ALREADY BEEN CONSIDERED BY THE COORDINATE BENCH IN THE CASE OF M/S RAJASTHAN STATE INDUSTRIAL DEVELOPMENT & INVESTMENT CORPORATION LTD. VS. ACIT, CIRCLE-6, JAIPUR IN ITA NO. 905/JP/2017 OR DER DATED 31/01/2018 WHEREIN SUCH ISSUE HAS BEEN DEALT AS UND ER: 14. IN LIGHT OF SECTION 244A, RULE 119A AND THE L EGAL PROPOSITION SO LAID DOWN BY THE HONBLE RAJASTHAN HIGH COURT IN CASE OF RAJASTHAN STATE ELECTRICITY BOARD (SUPRA), AND HONBLE GUJARAT HIGH COURT IN CASE OF ARVIND MILLS (SUPRA), IN THE INSTANT CASE, WHERE TH E ASSESSEE HAS PAID THE TAXES AND SUCH TAXES HAVE BEEN REFUNDED, THE AS SESSEE IS TO BE PAID INTEREST AT THE PRESCRIBED RATE FOR EVERY MONTH OR PART OF A MONTH COMPRISING THE PERIOD FROM THE DATE OF PAYMENT OF T HE TAX TO THE DATE ON WHICH THE REFUND IS GRANTED. IF SUCH PERIOD IS A FRACTION OF A MONTH, THE SAME SHALL BE DEEMED TO BE A FULL MONTH AND THE INTEREST SHALL BE CALCULATED FOR THE ENTIRE MONTH ACCORDINGLY. THEREF ORE, IN ORDER TO ASCERTAIN FOR HOW MANY MONTHS THE ASSESSEE WOULD BE ENTITLED TO RECEIVE INTEREST, THE NUMBER OF MONTHS COMPRISED IN THE PERIOD SHALL HAVE TO BE DETERMINED AND THE TERM MONTH HAS TO B E GIVEN THE ORDINARY SENSE OF THE TERM I.E. 30 DAYS OF PERIOD A ND NOT THE BRITISH CALENDAR MONTH AS DEFINED UNDER SECTION 3(35) OF TH E GENERAL CLAUSES ACT. THE DATE OF PAYMENT OF TAX DEMAND HAS BEEN STA TED BY THE LD AR AS 29.02.2008, 4.02.2008 AND 3.02.2009. THE DATE ON WHICH THE REFUND IS GRANTED IS THE DATE OF THE REFUND VOUCHER/ORDER WHICH IS SIGNED AND ISSUED ON 9.6.2010. THE AO SHALL VERIFY THE DATE OF PAYMENT OF TAXES AND TAKING THE DATE OF GRANT OF REFUND AS 9.6.2010, DETERMINE THE NUMBER OF MONTHS FOR WHICH THE INTEREST IS PAYABLE AT THE PRESCRIBED RATE OF INTEREST IN LIGHT OF ABOVE DISCUSSIONS AND THE INTEREST SO ITA 24/JP/2018 M/S RAJASTHAN RAJYA VIDYUT PRASARAN NIGAM LTD. VS ACIT 3 DETERMINED IS DIRECTED TO BE PAID TO THE ASSESSEE. THE MATTER IS ACCORDINGLY SET-ASIDE TO THE FILE OF THE AO WITH TH E SAID DIRECTIONS. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS DISPO SED OFF WITH ABOVE DIRECTIONS. THUS, IN VIEW OF THIS DECISION OF THE COORDINATE BENC H ON THE SAME ISSUE, THE MATTER IS RESTORED BACK TO THE FILE OF T HE ASSESSING OFFICER TO VERIFY THE DATE OF PAYMENTS AND THE DATE OF GRANTIN G THE REFUND TO THE ASSESSEE AND DETERMINE THE INTEREST PAYMENT ACCORDI NGLY. HENCE, THE MATTER IS RESTORED BACK TO THE FILE OF THE ASSESSIN G OFFICER. 3. IN THE RESULT, APPEAL OF THE ASSESSEE IS ALLOWED FOR STATISTICAL PURPOSES ONLY ORDER PRONOUNCED IN THE OPEN COURT ON 28/02/2018. SD/- SD/- FOT; IKY JKO HKKXPAN (VIJAY PAL RAO) (BHAGCHAND) U;KF;D LNL;@ JUDICIAL MEMBER YS[KK LNL;@ ACCOUNTANT MEMBER TK;IQJ@ JAIPUR FNUKAD@ DATED:- 28 TH FEBRUARY, 2018 *RANJAN VKNS'K DH IZFRFYFI VXZSFKR @ COPY OF THE ORDER FORWARDED TO: 1. VIHYKFKHZ @ THE APPELLANT- M/S RAJASTHAN RAJYA VIDYUT PRASARAN NIGAM LTD., JAIPUR. 2. IZR;FKHZ @ THE RESPONDENT- THE ACIT, CIRCLE-6, JAIPUR. 3. VK;DJ VK;QDR @ CIT 4. VK;DJ VK;QDRVIHY @ THE CIT(A) 5. FOHKKXH; IZFRFUF/K] VK;DJ VIHYH; VF/KDJ.K] T;IQJ @ DR, ITAT, JAIPUR 6. XKMZ QKBZY @ GUARD FILE (ITA NO. 24/JP/2018) VKNS'KKUQLKJ @ BY ORDER, LGK;D IATHDKJ @ ASST. REGISTRAR