Concessional penalty for search-disclosed unreconciled jewellery applies where substantive disclosure conditions are met despite omission from origina...
ITAT held that interest on refund is payable till the date funds are released to assessee, not till date of order accepting refund claim. Relying on Delhi HC's Nokia ruling, ITAT directed AO/CPC to grant interest to assessee till 30-01-2024 when refund was actually released after order u/s 154, as 'refund granted' in Sec 244A means refund payment, not just order accepting refund claim. Interest compensates for time value of money.
ITAT held that interest on refund is payable till the date funds are released to assessee, not till date of order accepting refund claim. Relying on Delhi HC's Nokia ruling, ITAT directed AO/CPC to grant interest to assessee till 30-01-2024 when refund was actually released after order u/s 154, as 'refund granted' in Sec 244A means refund payment, not just order accepting refund claim. Interest compensates for time value of money.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
