Financial and administrative powers of President Section 114 & interest on refund of amount paid for admission of appeal [ Section 115 ]

Appellate Tribunal President's Powers Delegated; Finance Act 2023 Revises Refund Interest Rules under Section 56 for Delays.

The President of the Appellate Tribunal has financial and administrative powers, which can be delegated to members or officers of the National and Regional Benches under the President's supervision. These powers were revised by the Finance Act 2023. Regarding refunds, if an amount paid for the admission of an appeal is to be refunded due to an order by the Appellate Authority or Tribunal, interest is payable on the refund from the payment date until the refund date, as specified under section 56, which mandates interest if the refund is delayed beyond sixty days.