Income Tax

Interest

— Interest on refund — AY 1986-87 — Conditions for entitlement to interest on refund under S. 244(1-A), Income Tax Act, restated — Further held, the onus to prove that said conditions were satisfied, lay on the assessee — In the present case, assessee filing a return declaring loss — Subsequently, it filing a revised return showing the same amount of loss but claiming refund of the tax deducted at source — Order under S. 143(1) passed accepting the returned loss — Thereafter, assessee disclosing to the Department a concealed income and depositing tax thereon on two different dates — Department also issuing notice under S. 148 — In such circumstances, determination of the date for grant of interest under S. 244(1-A), held, involved a question of law — Hence, ought to have been decided by High Court after formulating the appropriate question in the appeal filed by the assessee under S. 260-A of the Act — More so, when ITAT had itself taken a decision in respect of the succeeding AY contrary to that taken in the present case and the Revenue's appeal thereagainst had been admitted by High Court, (2006) 6 SCC 176