Interest u/s. 244A - interest on unpaid interest - refund ...

Taxpayer Wins Interest Dispute: Tribunal Grants Interest on Unpaid Interest from 2017, Overturning Initial Decision.

May 2, 2024

Case Laws Income Tax AT

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 Income Tax (Appeals), emphasizing their entitlement to interest from April 1, 2017, onwards. Despite initial denial by the Assessing Officer, the Tribunal ruled in favor of the appellant, considering the rectification order and the acceptance of Minimum Alternate Tax (MAT) credit. The Tribunal's decision aligned with the appellant's interpretation of section 244A, leading to the allowance of interest from the start of the assessment year to the date of refund.

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Interest u/s. 244A - interest on unpaid interest - refund ...

Taxpayer Wins Interest Dispute: Tribunal Grants Interest on Unpaid Interest from 2017, Overturning Initial Decision.

May 2, 2024

Case Laws Income Tax AT

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