https://www.taxtmi.com/caselaws?id=64974 The Tribunal held that the assessee was entitled to interest under section 244(1A) for excess tax paid, as the refund became due following the cancellation of the ex-parte assessment. It upheld the ITO's order granting interest under section 154, emphasizing the mandatory nature of section 244(1A) for refunds due before 1-4-1989. The Tribunal ruled against the Commissioner's invocation of section 263 to withdraw the interest, citing lack of error or prejudice. It also rejected the argument that section 244(1A) applied only to post-31-3-1975 payments, referencing relevant case law. The Tribunal reiterated its jurisdiction limitations on considering new points not raised by the Commissioner. en-us Fri, 27 Nov 1992 00:00:00 +0530 Fri, 11 Feb 2011 14:07:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64974 The Tribunal held that the assessee was entitled to interest under section 244(1A) for excess tax paid, as the refund became due following the cancellation of the ex-parte assessment. It upheld the ITO's order granting interest under section 154, emphasizing the mandatory nature of section 244(1A) for refunds due before 1-4-1989. The Tribunal ruled against the Commissioner's invocation of section 263 to withdraw the interest, citing lack of error or prejudice. It also rejected the argument that section 244(1A) applied only to post-31-3-1975 payments, referencing relevant case law. The Tribunal reiterated its jurisdiction limitations on considering new points not raised by the Commissioner. Case-Laws Income Tax Fri, 27 Nov 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64974