Interest on IT refund ?
This query is : Resolved
CMA. Subhash Kumar Jha
(Querist)
24 February 2011
Our assessment for AY 2005-06 was completed in May 2006. Assessment order issued. There was a mention of some 30000/- odd refund amount inclusive of interest till date. The actual cheque was never recd by us.
Then our case went for scrutiny u/s 143(3), which also confirmed the above refund amount in 2007.
But we never recd the original refund cheque.
Finally, we recd the refund in feb,11. Surprizingly, the refund amount is same = 30000/-. NO interest has been added for 2006 to 2011.
Can you provide me the exact section / notification/ judgement on which we can claim this interest amount.
Thanks
Then our case went for scrutiny u/s 143(3), which also confirmed the above refund amount in 2007.
But we never recd the original refund cheque.
Finally, we recd the refund in feb,11. Surprizingly, the refund amount is same = 30000/-. NO interest has been added for 2006 to 2011.
Can you provide me the exact section / notification/ judgement on which we can claim this interest amount.
Thanks
24 February 2011
Prima facie the section covered are 214 /244A.
Can rely the case Sandvik Asia Ltd Vs.CIT (2006) 150 Taxman 591 (SC).
But department may come up with Rajasthan State Electricity Board Vs. CIT (2006)281 ITR 274(Raj).
Can rely the case Sandvik Asia Ltd Vs.CIT (2006) 150 Taxman 591 (SC).
But department may come up with Rajasthan State Electricity Board Vs. CIT (2006)281 ITR 274(Raj).
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CMA. Subhash Kumar Jha
(Querist)
24 February 2011
Thank you very much sir...
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