https://www.taxtmi.com/caselaws?id=205705 The High Court upheld the ITAT's decision, ruling that Section 234D of the Income Tax Act was not applicable to the case as no refunds were granted under Section 143(1) of the Act. The Court emphasized that Section 234D only applies when refunds granted under Section 143(1) become refundable to the Revenue on regular assessment. The decision did not address the retrospective application of Section 234D, leaving that question open for future consideration. en-us Mon, 05 Sep 2011 00:00:00 +0530 Sat, 07 Dec 2013 14:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=205705 The High Court upheld the ITAT's decision, ruling that Section 234D of the Income Tax Act was not applicable to the case as no refunds were granted under Section 143(1) of the Act. The Court emphasized that Section 234D only applies when refunds granted under Section 143(1) become refundable to the Revenue on regular assessment. The decision did not address the retrospective application of Section 234D, leaving that question open for future consideration. Case-Laws Income Tax Mon, 05 Sep 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=205705