Delhi High Court Grants Interest on Tax Refund, Orders Rehearing

The High Court of Delhi accepted the prayer under section 256(1) of the Income-tax Act, 1961 regarding interest on a refund amount. The matter was ordered to be reheard based on previous court rulings and guidelines from a specific case, leading to the disposal of the reference.

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The High Court of Delhi accepted a prayer under section 256(1) of the Income-tax Act, 1961 regarding interest on a refund amount. The Tribunal's decision was based on previous court rulings, and the matter was ordered to be reheard in line with guidelines from a specific case. The reference was disposed of accordingly. (Case citation: 2001 (5) TMI 33 - DELHI High Court)

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