https://www.taxtmi.com/caselaws?id=116708 The Tribunal held that interest tax is not applicable to the interest received by the assessee from the income tax department on income tax refund. The Tribunal ruled in favor of the assessee, determining that interest on income tax refund does not qualify as interest on loans and advances under the Interest-tax Act, 1974. Therefore, the chargeability of interest tax on such amounts was negated, and the appeal was allowed in favor of the assessee. en-us Tue, 06 Jan 2004 00:00:00 +0530 Fri, 15 Jun 2012 12:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=116708 The Tribunal held that interest tax is not applicable to the interest received by the assessee from the income tax department on income tax refund. The Tribunal ruled in favor of the assessee, determining that interest on income tax refund does not qualify as interest on loans and advances under the Interest-tax Act, 1974. Therefore, the chargeability of interest tax on such amounts was negated, and the appeal was allowed in favor of the assessee. Case-Laws Income Tax Tue, 06 Jan 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=116708