Supreme Court · 2017 INSC 1071 · Decided 1 November 2017
M/S. K. Lakshmanya and Company v. Commissioner of Income Tax & ANR.
- Court
- Supreme Court of India
- Citation
- 2017 INSC 1071 · [2017] 12 S.C.R. 644
- Case number
- CIVIL APPEAL No. 4335/2012
- Decided
- 1 November 2017
- Bench
- R.F. NARIMAN, SANJAY KISHAN KAUL (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 244(A)
Headnote
Income Tax Act, 1961- ss.244(A), .240 and s.245(D){4) - Assessment years 1993-94 and 1994-95 - Interest on refund - C Entitlement of - High Court held that the assessee in the instant case was not entitled to interest uls.244(A) of the Act, when refui1d arose to it on account of chargeable uls. 234(A) to (C) by an order of the Settlenlent Commission - Propriety of - Held: Settlement Commission referred to the CBDT circular D E F which enabled it to waive interest in favour of assessee - U/s. 244(A), it is enough that the refund become due under the Income-tax Act, in
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