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TMI Blog2025 (1) TMI 1359X X X X Extracts X X X X X X X X Extracts X X X X ..... aid amount till the date of payment of the refund - as submitted that the statutorily fixed rate of interest u/s 244-A is only 6% per annum, therefore, the High Court [2021 (3) TMI 1014 - TELANGANA HIGH COURT] could not have ordered for refund @ 15% per annum HELD THAT:- We find that this Court by an interim order [2021 (8) TMI 1433 - SC ORDER] had stayed the direction of the High Court insofar a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Shahan Ulla, Adv. Mr. Varun Kalra, Adv. ORDER Leave granted. 2. We have heard learned A.S.G. for the appellant(s), learned counsel for the respondent and perused the material on record. 3. The only grievance of the appellant(s) is with regard to the award of interest at 15% per annum from the date of adjustment of the said amount till the date of payment of the refund of a sum of Rs.1,06,06,74 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r annum. However, by then there had been compliance of the order of the High Court. 7. We hence allow this appeal by directing the respondent to refund the amount of interest in excess of 6% per annum to the appellant(s)/Department being Rs.36,61,013/- within a period of four weeks from today. Ordered accordingly. 8. The Appeal is allowed and disposed of in the aforesaid terms. Pending applicat ..... X X X X Extracts X X X X X X X X Extracts X X X X
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