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of <h1>Delhi High Court to Decide Interest on Tax Refund Calculation</h1> <h3>Sutlej Industries Ltd. Versus Commissioner of Income-Tax.</h3> The High Court of Delhi admitted an appeal concerning interest on tax refund for the assessment year 1994-95. The court will determine the date for ... Competency of Appeal - According to the assessee, he is entitled to interest on the refund from the date of the payment of tax, while the Revenue contends that the amount of refund is determined subsequently and it is from the subsequent date that he would be entitled to get interest, if there is delay in payment - So far as the other assessment year (1995-96) is concerned, learned counsel for the Revenue has rightly objected that there cannot be a consolidated appeal. As aforesaid, the present appeal is taken to be an appeal qua assessment year 1994-95 only. It will be for the assessee to take suitable action in the matter pertaining to the assessment year 1995-96. The High Court of Delhi admitted an appeal regarding interest on tax refund for the assessment year 1994-95. The court will examine the date for reckoning interest under section 244A(1)(b). The appeal is specific to the 1994-95 assessment year only, not for the subsequent year 1995-96. The appellant must file the paper book within three months.
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