Interest on delayed refunds: interest accrues from expiry of the statutory period until refund is paid under specified notified rates. Interest on delayed refunds is payable where tax ordered to be refunded is not paid within sixty days of receipt of the application; interest runs from the day after that sixty-day period until refund at Government-notified rates subject to statutory ceilings, and a higher notified ceiling applies where the refund claim arises from a final adjudicatory or appellate order. An order of refund by an appellate body against a proper officer's order is treated as an order under the primary refund provision for interest purposes.
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 refunds: interest accrues from expiry of the statutory period until refund is paid under specified notified rates.
Interest on delayed refunds is payable where tax ordered to be refunded is not paid within sixty days of receipt of the application; interest runs from the day after that sixty-day period until refund at Government-notified rates subject to statutory ceilings, and a higher notified ceiling applies where the refund claim arises from a final adjudicatory or appellate order. An order of refund by an appellate body against a proper officer's order is treated as an order under the primary refund provision for interest purposes.
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