ACIT Vs. M/S. FANUC INDIA LTD.

JUDGEMENT

(1.) THERE is a delay of 150 days in preferring this appeal. The application is not opposed. Therefore, accepting the cause shown in the affidavit filed in support of the application for condonation of delay, the delay of 150 days in preferring this appeal is condoned.

(2.) THIS is an appeal preferred by the revenue challenging the order passed by the Tribunal, which affirmed the finding of the Commissioner of Income Tax (Appeals) who held that no interest is payable by the assessee from the date of refund till 1 -6 -2003.

(3.) THE substantial question of law that arises for consideration in this appeal is whether the interest payable under section 234D is payable from the date of refund if the refund is anterior to 1 -6 -2003 in the event of the assessment order being passed after section 234D came into force.