https://www.taxtmi.com/caselaws?id=118514 The Tribunal determined that interest on refunds under section 244A(1) of the Income-tax Act, 1961, is taxable in the year it is granted, not when proceedings under section 143(1)(a) are finalized. The right to interest is deemed absolute upon refund issuance, and any variation in interest due to subsequent assessments can be rectified under section 154. The matter was referred to the regular Bench for further consideration on merits. en-us Wed, 18 Jan 2006 00:00:00 +0530 Wed, 03 Apr 2024 13:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=118514 The Tribunal determined that interest on refunds under section 244A(1) of the Income-tax Act, 1961, is taxable in the year it is granted, not when proceedings under section 143(1)(a) are finalized. The right to interest is deemed absolute upon refund issuance, and any variation in interest due to subsequent assessments can be rectified under section 154. The matter was referred to the regular Bench for further consideration on merits. Case-Laws Income Tax Wed, 18 Jan 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=118514