Refund interest entitlement on excess tax or penalty payments mandates government-paid simple interest until refund is granted. Entitlement to simple interest on refunds where an assessee has paid tax or penalty in excess as found in appeal or other proceedings, payable by the Central Government from the date of payment to the date of refund; instalments are treated separately for interest computation; a short exclusion period after the appellate order applies; and where this interest is payable, the existing refund-interest provision does not apply to the excess amount.
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.
Refund interest entitlement on excess tax or penalty payments mandates government-paid simple interest until refund is granted.
Entitlement to simple interest on refunds where an assessee has paid tax or penalty in excess as found in appeal or other proceedings, payable by the Central Government from the date of payment to the date of refund; instalments are treated separately for interest computation; a short exclusion period after the appellate order applies; and where this interest is payable, the existing refund-interest provision does not apply to the excess amount.
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