Interest on delayed tax refunds accrues after the prescribed period; higher rate applies where refund follows final adjudication. If a tax refund ordered under the refund provisions is not made within sixty days of the refund application, interest accrues from the day after that period until refund at a government-notified rate not exceeding six percent; where the claim arises from a final adjudicatory or appellate or court order, a higher government-notified rate not exceeding nine percent applies for the same period. Appellate or court orders against an officer's refund order are deemed to be orders under the refund provision.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Interest on delayed tax refunds accrues after the prescribed period; higher rate applies where refund follows final adjudication.
If a tax refund ordered under the refund provisions is not made within sixty days of the refund application, interest accrues from the day after that period until refund at a government-notified rate not exceeding six percent; where the claim arises from a final adjudicatory or appellate or court order, a higher government-notified rate not exceeding nine percent applies for the same period. Appellate or court orders against an officer's refund order are deemed to be orders under the refund provision.
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