SC: HC larger bench to decide on Sec. 244A interest entitlement on self-assessment tax refund
SC sets-aside Delhi HC judgement, remands matter back to HC for fresh decision by larger bench on the issue of grant of Sec. 244A interest on self-assessment tax refund; SC notes that HC had decided the issue against the assessee and had differed with the view expressed by its co-ordinate bench in Sutlej Industries Ltd. case for AY 1998-99 wherein it was held that assessee would be entitled to interest u/s. 244A on the refund of self-assessment tax; SC remarks that “In the circumstances, the appropriate course of action was to refer the matter to the larger Bench and we fail to understand why it was not done.”; Notes that the Delhi HC subsequently in later case of Sutlej Industries has referred the matter to a larger bench considering the contrary rulings; Accordingly, SC remands the appeal back to HC for its afresh decision along with Sutlej case by a larger Bench.