ORDER
SHEET IN THE HIGH COURT AT CALCUTTA Special Jurisdiction [Income Tax].ORIGINAL SIDE ITA No.398 of 2005 C.I.T.KOLKATA I Versus M/S.ISPAT INDUSTRIES LTD.Smt.A.Ghutghutia, Advocate … for the Revenue Mr.J.P.
Khaitan, Senior Advocate with Mr.S.Das, Advocate … for the Respondent.
BEFORE: The Hon'ble JUSTICE KALYAN JYOTI SENGUPTA And The Hon'ble JUSTICE ASIM KUMAR MONDAL Date :
3. d August, 2012.
The Court : This appeal is sought to be preferred against judgment and order of the learned Tribunal dated 11th May, 2005 in relation to assessment year 2000-01 on the following suggested questions of law: i].Whether in the facts and circumstances of the case the Learned Tribunal has erred in holding that the Learned Commissioner of Income Tax [Appeals].is justified in directing the assessing officer to allow the interest on self assessment tax at the admissible rate from the date of payment of the tax upto the date of refund.
ii].Whether in the facts and circumstances of the case the Learned Tribunal erred in upholding that interest payable to the assessee on refund arising out of payment under Section 140A, where the returned income as well as assessed income of the assessee is nil one.
iii].Whether in the facts and circumstances of the case the order dated May 11, 2005 passed by the Learned Tribunal having been obtained by the assesseecompany is perverse.”
We have heard Smt.
Ghutghutia and have gone through the impugned judgment and order.
It is a matter of refund of tax paid on the self-assessment.
It has been not settled by various judgments of various Courts including the Supreme Court in Modi Industries LTD.versus C.I.T., reported in 216 ITR 759.that in case of selfassessment, refund of tax is admissible.
This has also been clarified by the CBDT Circular No.549 dated 31st October, 1989.
We think the Commissioner of Income Tax has rightly confirmed the same, so also the learned Tribunal.
Therefore, we do not find any merit in this appeal, and accordingly, we dismiss the appeal.
All parties concerned are to act on a signed photocopy of this order on the usual undertakings.
(SENGUPTA, J.) (ASIM KUMAR MONDAL, J.) sm AR[CR].