https://www.taxtmi.com/caselaws?id=76873 HC held that interest under s.234D on excess refund is chargeable only prospectively from 1.6.2003, and not from the original date of refund. In this case, refund was granted on 28.6.2000 under s.143(1) and converted into a tax demand on completion of regular assessment on 22.1.2004. HC upheld the Assessing Officer's levy of interest only for the period 1.6.2003 to 22.1.2004 and ruled that the Commissioner had no authority under s.263 to give retrospective effect to s.234D. While rejecting the Commissioner's order, HC also held the Tribunal erred in limiting applicability of s.234D to AY 2004-05 onwards. The appeal was dismissed and the original assessment with interest from 1.6.2003 restored. en-us Fri, 15 Jan 2010 00:00:00 +0530 Thu, 27 Nov 2025 15:15:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=76873 HC held that interest under s.234D on excess refund is chargeable only prospectively from 1.6.2003, and not from the original date of refund. In this case, refund was granted on 28.6.2000 under s.143(1) and converted into a tax demand on completion of regular assessment on 22.1.2004. HC upheld the Assessing Officer's levy of interest only for the period 1.6.2003 to 22.1.2004 and ruled that the Commissioner had no authority under s.263 to give retrospective effect to s.234D. While rejecting the Commissioner's order, HC also held the Tribunal erred in limiting applicability of s.234D to AY 2004-05 onwards. The appeal was dismissed and the original assessment with interest from 1.6.2003 restored. Case-Laws Income Tax Fri, 15 Jan 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=76873