Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights September 2019 Year 2019 This

Claim of refund of interest - excess interest collected u/s.220 ...


Revenue Authority Ordered to Refund Excess Interest and Statutory Interest u/ss 220 and 244A of Income Tax Act.

September 23, 2019

Case Laws     Income Tax     HC

Claim of refund of interest - excess interest collected u/s.220 along with statutory interest U/s.244A - Revenue directed to refund the said sum along with appropriate interest within a period of four weeks.

View Source

 


 

You may also like:

  1. Payment of interest u/s 244A on the amount of refund payable to the assessee - CIT(A) concluded that the claim of ‘interest’ by the respondent for the refund amounts to...

  2. The Appellate Tribunal held that denial of interest on delayed refund of Dividend Distribution Tax (DDT) was incorrect. Lower authorities misinterpreted section 244A(1)...

  3. Interest u/s 244A - The rectification order dated 31.07.2020 having failed to calculate interest u/s 244A (which is automatic unless delay is attributable to assessee’s...

  4. Interest on Delayed Refund of Input Tax Credit - Proviso to Section 56 specified increased interest rates for refunds arising from orders of adjudicating or appellate...

  5. Interest in terms of Section 244A - When an order of refund is issued, the same should include interest payable on the amount, which is refunded. If the refund does not...

  6. The court held that the assessee was entitled to refund of Rs. 3,50,00,000/- deposited with the department, along with statutory interest and interest on refunds. The...

  7. ITAT held that interest on refund is payable till the date funds are released to assessee, not till date of order accepting refund claim. Relying on Delhi HC's Nokia...

  8. The assessee claimed additional interest u/s 244A(1A) for the delayed refund. The AO incorrectly adjusted the refund against the tax component instead of first adjusting...

  9. Levy of interest u/s 220(2) - Revenue demanded interest on the amount refunded to the Assessee - The demand for interest raised by the AO is contrary to the Circular...

  10. Interest u/s. 244A - interest on unpaid interest - refund awarded in the rectification order u/s. 154 - The appellant contested the decision of the Commissioner of...

  11. Interest on refund - Where it is found that no refund has been granted pursuant to intimation u/s 143(1), the assessee shall be granted relief from such levy of interest...

  12. Computation of refund and interest thereon under section 244A - The present case is not a case where interest on interest due was claimed by the assessee. The issue...

  13. Interest u/s 244A - Delay in granting refund - refund due to excess self assessment tax paid - Assessee is eligible for interest u/s 244A for the entire period for which...

  14. When calculating interest u/s 244A(1), if a refund is granted earlier, it should be adjusted against the interest component first, and the remaining amount, if any,...

  15. Interest u/s.244A - The shortfall, if any, of the refund amount with reference to the amount so computed, would have to be apportioned between the principal (tax) and...

 

Quick Updates:Latest Updates