Dismissing the appeal of the revenue, the court held that since the revenue which has received the tax deducted at source from the payments to be made to the assessee and appropriate the same, would refund the same but the interest would be accounted\u00a0 much later when the return giving rise to the refund, is filed. Accordingly the assessee following the project completion method is entitle to interest on refund which was deducted earlier and income is shown in latter year. Followed Tata Chemicals\u00a0 Ltd 363 ITR 658 (SC) (ITA No. 1230 of 2016 dt. 29 1-2019) (From the judgement of the Tribunal in ITA No 5306 \/ 2012 dt. 23-09 2015 ( AY. \u00a02003-04 , 2004 -05 ,2005 -06)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 244A : Refunds\u2013Interest on refunds-Project competition method -Tax deduction at source\u2013Tax deducted earlier years on the basis of payment- Income was shown in the year of completion of project \u2013 Assessment resulting to refunds- Entitle to interest from the date of payment to Govt. [S. 199]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-3969","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-121","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/3969","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=3969"}],"version-history":[{"count":3,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/3969\/revisions"}],"predecessor-version":[{"id":8804,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/3969\/revisions\/8804"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=3969"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=3969"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=3969"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}