the total income at Rs.24,22,39,334/- after making certain disallowances. Pursuant to the appellate order passed by the CIT (Appeals) – III, the assessment was subsequently revised on 15.02.2006 giving effect to the order of CIT (Appeals), as a result of which, the total income was revised to Rs.22,54,78,112/-. Subsequently, the assessment order passed under Section 143(3) on 28.02.2005 was set aside by the CIT by order dated 30.03.2007 to examine the payment of Rs.3,97,55,441/- to M/s.Wescare India Private Limited vis-avis the units of electricity supplied to the assessee. In consequence of the direction given by the CIT, the Assessing Officer passed an order under Section 143(3) read with Section 263 on 18.12.2007, determining the total income at Rs.26,52,33,550/-. The assessee preferred an appeal against the said order before the CIT (Appeals) and the Appellate Authority, by order dated 24.04.2008, partly allowed the appeal. While giving effect to the order of CIT (Appeals), the order dated 18.12.2007 was revised vide order dated 30.03.2009 and the Assessing Officer granted interest under Section 244A at Rs.11,46,600/- as against Rs.16,84,867/-. While Computing the refund under Section 244A, the Assessing Officer has omitted to consider that as per provisions of Section 244A, where refund of any amount arises to the appellant out of advance tax/TDS/tax paid, the appellant is entitled to interest from the 1st day of April of the assessment year/date of payment to the date on which the refund is actually granted. The actual interest due to the appellant calculated strictly on the above basis amounts to Rs.16,84,867/-. Aggrieved by the said order granting lesser interest, the assessee preferred an appeal to the CIT (Appeals) and the Appellate Authority by order dated 21.02.2012 rejected the contentions of the assessee holding that the interest under Section 244A is to be granted only if there is inordinate delay in the granting of refund. Aggrieved by the order of the CIT (Appeals), the assessee preferred an appeal to the Income Tax Appellate Tribunal and the Tribunal, by its order dated 29.06.2012, confirmed the order of the CIT (Appeals) and dismissed the appeal. Aggrieved over the same, the assessee has filed the above appeal.
