Taxability of Interest earned as per the provisions of section ...

Interest on Rs. 1.18 crore tax refund not taxable u/s 244A due to demand from 2017 assessment.

March 23, 2022

Case Laws Income Tax AT

Taxability of Interest earned as per the provisions of section 244A - we are satisfied that the ld. CIT(A) was justified in holding that interest on income-tax refund amounting to ₹ 1.18 crore cannot be charged to tax on the processing of return u/s.143(1) during the year under consideration for the raison d’etre that the regular assessment made in the year 2017 resulted into creation of demand and wiping out the refund already granted to the assessee along with recovery of interest. - AT

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Taxability of Interest earned as per the provisions of section ...

Interest on Rs. 1.18 crore tax refund not taxable u/s 244A due to demand from 2017 assessment.

March 23, 2022

Case Laws Income Tax AT

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