Interest on excess refund.

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..... where any refund is granted to the assessee under section 270(1), and- (a) no refund is due on regular assessment; or (b) the amount refunded under section 270(1) exceeds the amount refundable on .....

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..... d granted under section 270(1) is held to be correctly allowed, either in whole or in part, then, the interest chargeable, if any, under sub-section (1) shall be reduced accordingly. (3) Where in rel .....

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