The Commissioner of Income-tax, Thiruvananthapuram v. The Kerala Minerals and Metals Ltd
[Citation -2017-LL-1204-5]
| Citation | 2017-LL-1204-5 |
|---|---|
| Appellant Name | The Commissioner of Income-tax, Thiruvananthapuram |
| Respondent Name | The Kerala Minerals and Metals Ltd. |
| Court | HIGH COURT OF KERALA AT ERNAKULAM |
| Relevant Act | Income-tax |
| Date of Order | 04/12/2017 |
| Judgment | View Judgment |
| Keyword Tags | regular assessment • assessed tax • excess tax • interest on refund |
| Bot Summary: | The issue is no longer res integra having been answered by a Division Bench of this Court affirming the view of a learned Single Judge in W.A No.817/2010 dated 08.10.2013. It was held so: The argument is that going by the explanation to Section 244A the ITA 67/2012 :2: liability to pay interest is only in respect of the tax paid after a demand is made under section 156 of the Act. Any amount due to the assessee under the Act mentioned in section 244(1) clearly takes in all forms of refund, either self assessed tax or tax paid as per notice under Section 156 of the Act. As far as the explanation is concerned it only indicates the date on which the interest is liable to paid. That being the position, we do not think that there is any illegality or perversity in the judgment of the learned Single Judge. ITA 67/2012 :3: In the aforesaid circumstance, the assessee would be entitled to the interest on the excess tax paid. The question raised in the Income Tax Appeal is answered against the Department in favour of the assessee, affirming the order of the Tribunal, respectfully following the binding precedent cited above. |