Sanjeevkumar Biharilal Kabra And ... vs The Union Of India And Others
2022 Latest Caselaw 3479 Bom

                                    1             906- W.P. No. 4402-2021.odt




       IN THE HIGH COURT OF JUDICATURE AT BOMBAY
                   BENCH AT AURANGABAD

                906 WRIT PETITION NO.4402 OF 2021

SANJEEVKUMAR BIHARILAL KABRA AND OTHERS
VERSUS
THE UNION OF INDIA AND OTHERS
                            ...

Advocate for Petitioners : Mr. R. R. Chandak GP for Respondents: Mr. A. R. Kale ASG for Respondent No.1 : Mr. A.G. Talhar Advocate for Respondent Nos. 2 to 19 : Mr. Alok Sharma ....

CORAM : R. D. DHANUKA & S.G. MEHARE JJ.

DATE : 30.03.2022.

PER COURT :-

The Writ Petition has been fled by the petitioners

praying for payment of interest at the rate of 6% p.a. from 3 rd

March 2018 to 23rd December 2019 with compensatory interest

at the rate of 12% p.a. from 24th December, 2019 till 1st

December, 2020 on the amount of cash released of Rs.

14,36,000/- and with interest at the same rate from 01.11.2017

to 01.12.2020 on cash released of Rs. 9,35,000/-.

2. The petitioner has prepared a chart annexed at Page No.

15 of the compilation tendered across the bar.

3. Mr. Chandak, learned counsel for the petitioners submits

that though according to the petitioners, the petitioners would

be entitled to larger sum as prayed in the petition, the

petitioners has restricted the claim for payment of interest for

the period from 3rd March 2018 to 23rd December 2019 as per

Section 132 B (4) OR Section 244-A(1)(b) of the Income Tax Act

1961 with compensatory interest at the rate of 6% p.a. totaling

sum of Rs. 599780/- after giving credit of the interest already

paid by the revenue for the period from 1 st March 2018 to 13th

December 2019 in the sum of Rs. 206360/-. In support of this

contentions learned counsel placed reliance on various

Judgments of other High Courts and also Judgments of the

Hon'ble Supreme Court in the case of Sandvik Asia Ltd Versus

Commissioner of Income-Tax-1, Pune reported in LAW(SC)-2006-

1-51.

4. Mr. Sharma, learned counsel for the respondents seeks

time to produce before this Court Judgments in support of his

contentions that no amount other than the amount prescribed

under the Act can be allowed by this Court.

5. Place the matter high on board on 6th April, 2022 under

the caption of ' part heard'

(S.G. MEHARE J.) ( R.D. DHANUKA J. ) ysk