1999 (8) TMI 50 - HC - Income Tax

Summary

The High Court of Calcutta rejected an appeal regarding the entitlement to "interest on interest" under section 244(1A) of the Income-tax Act, 1961. The court held that the interest payable under section 244(1A) is distinct from that under section 214, and simple interest is to be paid on the refund amount from the date following the expiry of three months to the date of refund. The appeal was rejected as no substantial question of law arose.