30.04.1997 Being aggrieved by the 1st Respondents Order, appellant moved this Court which by its companymon order passed in Civil Appeal No.1887 of 1992 with Civil Appeal Nos.
27.02.1987 Appellant filed four Revision Petitions under Section 264 of the Act before the 1st respondent for grant of interest under Sections 214 and 244 of the Act for the following periods Assessment years Period 1977 78 01.04.1977 to 30.04.1986 1978 79 01.04.1978 to 30.04.1986 1981 82 01.04.1981 to 30.04.1986 1982 83 01.04.1982 to 30.04.1986 28.02.1990 Respondent No.1 rejected the revision petitions.
34,78,800/ for the period 1.4.1978 to 27.3.1981 u s 143 3 12,17,580 iii Int.
We heard Mr. Jehangir D. Mistri, learned companynsel assisted by Mr. Rustom B. Hathikhanawala, for the appellant and Mr. Mohan Parasaran, learned ASG assisted by Mr. Manish Tiwari and Others for the respondents.
34,78,800/ R.O. issued on 23/4/1986 From 1.4.1981 to 30.9.1984 12 14,61,096 From 1.10.1984 to 31.3.1986 15 7,82,730 42,38,846 Interest granted on 28.11.1986 1,73,940 Interest payable to the assessee 40,84,906 27/3/1998 Sd Surinder Jit Singh Dy.
2649 of 1992 etc.
1,45,48,006/ a provisional Assessment Order determining the tax payable at Rs.1,28,46,079/ and, therefore, granted a refund of Rs.17,01,927/ .
Assessment Year 1982 83 The appellant submitted its estimate of advance tax and paid instalments thereon of Rs.
on the total amount of refund including the interest accrued thereon from the day such refund amount became due and payable till the date of actual payment in terms of Sections 214 1 , 214 1A and 244 1A read with Section 240 and Section 244 1 of the Income Tax Act, 1961 and in the alternative, assuming that numbersuch interest on interest is payable under any of the provisions of the Act then the same shall be ordered to be paid in exercise of writ jurisdiction since the amount of interest payable under Section 214 1 read with Sections 214 1A and 244 1A of the said Act was illegally and wrongfully withheld by the respondents for a very long period as stated in the writ petition.
The appellant paid a sum of Rs.1,86,04,450/ .
1 are set aside and the matter is remitted to him for companysidering the revision petitions filed by the appellant claiming interest under Section 214 of the Income Tax Act, 1961 in accordance with the principles laid down in Modi Industries Ltd. Case supra .
With C.A.Nos.
The appellant submitted its estimate of advance tax and paid instalments thereon at Rs.1,11,81,844/ .
Assessment Year 1978 79 Notice of demand was issued to the appellant by respondent No.2 for payment of advance tax on Rs.2,14,56,853/ .
However, respondent No.2, declined to grant interest on refund to the appellant.
By order dated 29.9.1997, the Commissioner of Income Tax, Pune, directed the payment of interest according to the decision in Modi Industries case and in pursuance thereto the Dy.
For the sake of brevity, the working of interest under Sections 214 and 244 1A is reproduced hereunder WORKING OF INTEREST U S 214/244 1A Interest u s 214 1 of the Act at 12 on Rs.
The Commissioner of Income tax Appeals disposed of the appellants appeal substantially allowing the same.
16.01.2004 Impugned companymon judgment and order passed by the High Court.
1,49,62,292/ .
Assessment Year 1981 82 The appellant submitted its estimate of advance tax and paid instalments thereon amounting to Rs.
Along with the said refund, a sum of Rs.10,06,464/ was also paid as interest under Section 214 of the Act.
The appellant on 30.04.1986 received a refund of Rs.42,38,260/ and became entitled to receive interest on the refund and requested respondent No.2 to grant interest on refund under Sections 214 and 244 of the Act for the period from 01.4.1977 to 31.03.1986.
Respondent No.1 rejected the same.
Commissioner of Income Tax SR 2 , Pune, passed order dated 27.3.1998 giving effect to the order of the CIT dated 29.9.1997 and granted interest to the tune of Rs.
Respondent No.2 granted interest of Rs.1,20,533/ .
Respondent No.2 gave effect to the appellate order determining income of Rs.89,02,070/ and tax payable thereon at Rs.52,63,348/ .
Respondent No.2 gave effect to the appellate order determining income of Rs.2,05,91,540/ and tax payable thereon at Rs.1,16,07,670/ .
Commissioner of Income Tax Spl.
Sd C.Agarwal Sd P.Wadhwa New Delhi, April 30, 1997 27.03.1998 Pursuant to the 1st Respondents direction, the 2nd Respondent passed an Order paying amounts under Sections 214 and 244 1A of the Act up to the date of refund of tax.
u ss 244 1A on Rs.
Respondent No.2 passed an Assessment Order determining the total income of Rs.1,79,84,200/ and tax payable thereon at Rs.1,06,33,157/ and hence granted a further refund on Rs.23,20,051/ .
Respondent No.2 rectified its order and granted further interest of Rs.1,87,203/ under Section 214 of the Act but refused to grant interest under Sections 214 1A and 244 1A of the Act.
Respondent No.2 gave effect to the appellate order determining income at Rs.93,93,180/ and tax payable thereon at Rs.54,24,561/ Respondent No.2 granted a refund of Rs.34,78,807/ and the appellant also became entitled to receive interest on the said refund.
CIT reported in 216 ITR 759.
Respondent No.2 gave effect to the appellate order determining income at Rs.2,68,88,220/ and tax thereon at Rs.1,47,88,521.
1887 OF 1992 Sandvik Asia Ltd. Appellant Versus M.Soni Ors.
The appellant received a refund of Rs.53,69,809/ and became entitled to receive interest on the refund.
The appellant received a refund of Rs.21,15,008/ and became entitled to receive interest on the refund.
2649/92, 2550/92, 2687/92 1471/96 O R D E R These appeals are companyered against the revenue by the decision of this Court in Modi Industries Ltd. Ors.
07.06.2001 Appellant filed four writ petitions in the High Court at Bombay challenging the aforesaid orders of Respondent No.1.
Respondent No.2, after rectifying his assessment order, determined the income of Rs.3,45,91,830/ and tax thereon at Rs.1,99,76,781/ and raised a demand for further tax payable of Rs.13,72,331/ .
The appellant requested to grant interest on refund under Sections 214 and 244 of the Act was for the period from 01.04.1981 to 31.03.1986.
The appellant requested respondent No.2 to grant interest on refund under Sections 214 and 244 of the Act for the period from 01.04.1982 to 31.03.1986.
The appellant paid the said sum.
Commissioner of Income tax disposed of the appellants appeal against the Assessment Order substantially allowing the same.
The refund order has been marked as Annexure P 16 Colly .
The order rejecting the claim for interest on interest is sought to be challenged on the ground that the appellants were entitled to be paid for interest 15 p.a.
For the reasons given in the said judgment these appeals are allowed, the impugned order passed by Respondent No.
FOR ALL FOUR ASSESSMENT YEARS 02.01.1987 Appellant asked for further interest on the advance tax paid for the Assessment Years 1977 78, 1978 79, 1981 82 1982 83 12.01.1987 Appellant asked for further interest on the advance tax paid which was rejected by Respondent No.2 holding that interest under Section 244 1A of the Act was admissible only on post assessment taxes.
The Commissioner of Income tax Appeals disposed of the appellants appeal substantially allowing the same.
on Rs.
An assessment order determining income of Rs.1,54,17,090/ and tax payable thereon at Rs.89,03,368/ after adjusting the advance tax paid against the tax payable a refund of Rs.22,78,476 was determined.
42,38,846/ .
He passed an Assessment Order determining the total income of Rs.2,43,41,780/ and tax payable thereon at Rs.1,37,22,678/ and raised demand for further tax of Rs.8,76,600/ which was paid by the appellant on 30.03.1985.
The following facts are number in dispute Assessment Year 1977 78 Notice of demand was issued to the appellant by respondent No.2 for advance tax payable of Rs.2,74,31,250/ .
The appellant filed a revision petition with Respondent No.1 under Section 264 of the Act against the second respondents refusal to grant interest under Section 214 of the Act.
Assessment order was passed by respondent No.2 determining income of Rs.3,88,37,630/ .
Dr. AR.
Commissioner of Income Tax 216 ITR 759.
Commissioner of Income tax Appeals disposed of the appellants appeal substantially allowing the same.
Rg.2, Pune 25.09.2000 Appellants revision petition dated 03.07.1998 asking for interest on the delayed payment of interest up to the date of payment of the same was rejected by the 1st respondent on the ground that as the monies were refunded to the assessee only after the direction of this Court, the question of granting of interest for the period the matter was sub judice, does number really arise.
22,78,400 For the period 1.4.1978 to 28.2.1981 7,97,440 ii Interest u s 214 1 of the Act at 12 p.a.
directed respondent No.1 to companysider the revision petitions in light of its decision in the case of Modi Industries Ltd. Vs.
Respondent No.2 passed a provisional Assessment Order determining the tax payable at Rs.1,29,54,736/ and, therefore, granted a refund of Rs.20,07,556/ .
The order of this Court dated 30.04.1997 is reproduced hereunder CIVIL APPEAL NO.
No order as to companyts.
Aggrieved by the above companymon judgment, the appellant has filed the above civil appeals.
