Part XIV - AMENDMENTS TO CERTAIN ACTS TO PROVIDE FOR MERGER OF TRIBUNALS AND OTHER AUTHORITIES AND CONDITIONS OF SERVICE OF CHAIRPERSONS, MEMBERS, ETC. (From Section 156 to Section 189)
Interest on refunds: deductors entitled to simple interest on Chapter XVII-B refunds from claim or payment until refund granted. The amendment grants a deductor the right to simple interest on refunds of amounts paid under Chapter XVII-B, calculated from the date a refund claim is made in the prescribed form or, where refund follows an appellate or revisionary order, from the date the tax was paid, until the refund is granted. It further amends subsection (2) to include the deductor and to reference the newly inserted subsection so that the deductor's entitlement is incorporated into the existing refund-interest framework.
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Provisions expressly mentioned in the judgment/order text.
Interest on refunds: deductors entitled to simple interest on Chapter XVII-B refunds from claim or payment until refund granted.
The amendment grants a deductor the right to simple interest on refunds of amounts paid under Chapter XVII-B, calculated from the date a refund claim is made in the prescribed form or, where refund follows an appellate or revisionary order, from the date the tax was paid, until the refund is granted. It further amends subsection (2) to include the deductor and to reference the newly inserted subsection so that the deductor's entitlement is incorporated into the existing refund-interest framework.
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