Sutlej Industries Ltd. vs Cit
2004 Latest Caselaw 167 Del

JUDGMENT

Admit.

2. Paper book would be filed by the appellant within a period of three months as per rules.

2. Paper book would be filed by the appellant within a period of three months as per rules.

3. Against the order made by the Income Tax Appellate Tribunal in I.T.A. No. 6199/Delhi of 1997 for the assessment year 1994-95, this appeal is filed. According to the assessed, he is entitled to interest on the refund from the date of the payment of tax, while the revenue contends that the amount of refund is determined subsequently and it is from the subsequent date that he would be entitled to get interest, if there is delay in payment. In the opinion of the court, the following question of law is required to be examined considering the facts and circumstances of the case

3. Against the order made by the Income Tax Appellate Tribunal in I.T.A. No. 6199/Delhi of 1997 for the assessment year 1994-95, this appeal is filed. According to the assessed, he is entitled to interest on the refund from the date of the payment of tax, while the revenue contends that the amount of refund is determined subsequently and it is from the subsequent date that he would be entitled to get interest, if there is delay in payment. In the opinion of the court, the following question of law is required to be examined considering the facts and circumstances of the case

"What would be the date for reckoning the interest on refund under section 244A(1)(b) ?"

So far as the other assessment year (1995-96) is concerned, learned Counsel for the revenue has rightly objected that there cannot be a consolidated appeal. As aforesaid, the present appeal is taken to be an appeal qua assessment year 1994-95 only. It will be for the assessed to take suitable action in the matter pertaining to the assessment year 1995-96.