Hapur Vs Jindal Poly Films Pvt. Ltd.

Parties Involved

Facts Summary

The case involves an appeal by the Revenue against the order passed by the Commissioner of Income Tax Appeals (CIT(A)) for the assessment years 2008-09 and 2009-10. The primary issue is the grant of interest on a refund under section 244A(1) of the Income Tax Act, 1961. The appellant argued that the interest should be calculated from the first day of the assessment year, while the respondent relied on a previous order by the Delhi Bench of the Income Tax Appellate Tribunal (ITAT) that disallowed interest for the period attributable to the assessee. The tribunal considered the submissions of both parties and the relevant provisions of the Income Tax Act, concluding that the appellant is entitled to interest from the first day of the assessment year.…

Legal Issues

• 1. Whether the appellant is entitled to interest on the refund under section 244A(1) of the Income Tax Act, 1961 from the first day of the assessment year.

Judgment Outcome

Decided in favour of Partly Assessee / Partly Revenue.

Precedents Relied Upon

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