Interest on refunded amounts arises where a summary-assessment refund is later found not due after regular assessment. Interest under Section 234D is payable where a refund granted on summary assessment is later found on regular assessment to be not due or to exceed the ... Summary
Interest on refunded amounts arises where a summary-assessment refund is later found not due after regular assessment.
Interest under Section 234D is payable where a refund granted on summary assessment is later found on regular assessment to be not due or to exceed the refundable amount, making the assessee liable to pay interest on the refund amount that was not actually due.
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