https://www.taxtmi.com/caselaws?id=204916 Where amounts belonging to an assessee are already lying with the Department and are legally available for adjustment, interest for default in advance tax payment and related delays under Sections 234A, 234B, 234C and 220(2) of the Income-tax Act is not leviable. The Delhi High Court held that the Department's refusal to adjust the sums on the basis of a disputed assessee status was unjustified once the Settlement Commission resolved the ownership issue in the taxpayer's favour. It also held that interest on the refundable balance under Section 244A became payable from the date the amount was transferred from the Public Deposit account to the Assessing Officer after adjustment of tax due. en-us Fri, 03 Jun 2011 00:00:00 +0530 Mon, 31 Oct 2011 11:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=204916 Where amounts belonging to an assessee are already lying with the Department and are legally available for adjustment, interest for default in advance tax payment and related delays under Sections 234A, 234B, 234C and 220(2) of the Income-tax Act is not leviable. The Delhi High Court held that the Department's refusal to adjust the sums on the basis of a disputed assessee status was unjustified once the Settlement Commission resolved the ownership issue in the taxpayer's favour. It also held that interest on the refundable balance under Section 244A became payable from the date the amount was transferred from the Public Deposit account to the Assessing Officer after adjustment of tax due. Case-Laws Income Tax Fri, 03 Jun 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=204916