TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
When case Id is present, search is done only for this
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Case Laws
of of All Case Laws
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Appeal allowed against 15% interest award; refund Rs.36,61,013 excess over 6% to Department within four weeks</h1> <h3>ASSISTANT COMMISSIONER OF INCOME TAX & ORS. Versus MS. TSI BUSINESS PARKS (HYDERABAD) PVT. LTD.</h3> ASSISTANT COMMISSIONER OF INCOME TAX & ORS. Versus MS. TSI BUSINESS PARKS (HYDERABAD) PVT. LTD. - [2025] 477 ITR 1 In the Supreme Court case, presided over by Hon'ble Justice B. V. Nagarathna and Hon'ble Justice Satish Chandra Sharma, the appellant challenged the High Court's order awarding interest at 15% per annum on tax refunds, arguing that under Section 244-A of the Income Tax Act, 1961, the statutory interest rate is 6% per annum. The appellant sought modification of the High Court's order to align with the statutory rate.The respondent's counsel contended that the department had already complied with the High Court's directive. However, the Supreme Court had previously issued an interim order staying the High Court's directive regarding interest exceeding 6%. The Supreme Court ultimately allowed the appeal, directing the respondent to refund the excess interest amounting to Rs.36,61,013/- to the appellant within four weeks. The appeal was thus allowed and disposed of, with any pending applications also disposed of accordingly.
TaxTMI 
TaxTMI 
