MODIPON LTD. Vs. COMMISSIONER OF INCOME TAX
LAWS(DLH)-2007-8-252
HIGH COURT OF DELHI
Decided on August 07,2007

MODIPON LTD. Appellant
VERSUS
COMMISSIONER OF INCOME TAX Respondents

JUDGEMENT

- (1.) IN this reference under s. 256(1) of the IT Act, 1961, the following questions of law arise for our opinion : "1. Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in holding that the assessee was not entitled to interest on the delayed refund of interest due and payable under ss. 214 and/or 244 of the Act from the due date to the date of payment ? 2. Whether, on the facts and in circumstances of the case, the Tribunal was right in law holding that the assessee was not entitled to interest on the refund of interest levied and paid under s. 220(2) of the Act from the date of payment to the date of refund ? 3. Whether, on the facts and in the circumstances of the case, the Hon'ble Tribunal was correct in directing to allow the interest under s. 214 to the assessee upto the date of granting of refund and not upto date of regular assessment -
(2.) IN respect of question No. 1, the admitted position is that in view of the decision of this Court in J.K. Synthetic Ltd. is required to be answered in the negative in favour of the assessee and against the Revenue.
(3.) INSOFAR as the second question is concerned, this is also admittedly required to be answered in the negative, in favour of the assessee and against the Revenue in view of the decision of this Court in Modipon Ltd. vs. CIT (2004) 192 CTR (Del) 110 : (2004) 270 ITR 257 (Del). Insofar as the third question is concerned, that too is covered by the judgment of this Court delivered in the case of J.K. Synthetic Ltd. (supra). This question is answered in the affirmative, in favour of the assessee and against the Revenue. The reference is disposed of accordingly.;


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