Interest on IT refund ?

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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

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)

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).

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CMA. Subhash Kumar Jha

CMA. Subhash Kumar Jha (Querist)

24 February 2011 Thank you very much sir...

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