Supreme Court of India
Sandvik Asia Ltd. v. Commissioner of Income Tax-i, Pune and Ors.
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
2 Supreme Court benches have cited this judgment.
What the Court ordered
We hold that the Department is solely responsible for the delayed payment, we feel that the interest of justice would be amply met if we order payment of simple interest @ 9% p.a. from the date it became payable till the date it is B actually paid.
Judgment, page 40
From the headnote
Income Tax Act, 1961: Section 240 (as it stood prior to 1.4.1989)-AYs 1977-78, 1978-79, 1981-82 and 1982-83-Refund on appeal-Interest on refund-Delayed payment of interest-Compensation-Entitlement to- notice of demand for payment of income tax was issued to the assessee-However, the appellate authority directed refund of a certain amount-The assessee, thus, became entitled to interest on the refund under Ss. 2 I 4 and 244-But the payment of interest was delayed for various periods ranging from 12 to 17 years-The assessee filed a writ petition before the High Court claiming interest on the
Authorities it was built on
Where later benches applied it
- 2022 Union of India & Ors v. M/s. Willowood Chemicals Pvt. Ltd. & Anr.
- 2013 Commissioner of Income Tax, Gujarat v. Gujarat Fluoro Chemicals
Of those, 1 referred to · 1 mentioned
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