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Judgment
I.A. No. 3609 of 2022 – By this application Learned Counsel for the Applicant has prayed for clarification of the Order/Judgment passed by this Tribunal on 06.05.2022.
Learned Counsel for the parties submit that there are no issues regarding any other clarification except the amount of interest which has been already deposited i.e. an amount of Rs. 1,86,28,576/-.
Learned Counsel for the Appellant submits that what was intended by this court is that interest must be paid on amount of Rs. 165.31 Crores whereas Learned Counsel for the Respondent submits that the interest was payable not on this fixed amount but amount which was balance on the relevant date.
Learned Counsel for the parties submit that both the parties want to close the matter. Ends of justice be served in directing the payment of only 50% of interest of Rs. 1,86,28,576/- which has already been deposited.
Let 50% of aforesaid amount be refunded to the Appellant.
In pursuance of the order dated 06.05.2022 all the steps for implementation may be undertaken by the Respondents.
Learned counsel for the Appellant further submits that with regard to benefit under 79 of the Income Tax Act, the Appellant shall approach the Assessing Authority.
The application is disposed of accordingly.