https://www.taxtmi.com/caselaws?id=210750 The court held that Section 234D of the Income-tax Act applies from June 1, 2003, and cannot be retrospectively applied to assessment years prior to its introduction. However, if the regular assessment is completed after this date, the provision applies. The court determined that interest on excess refunds is applicable from the date of the regular assessment if completed after the introduction of Section 234D. The Revenue's appeal was allowed, setting aside previous orders and holding the assessee liable to pay interest on the excess refund. en-us Thu, 08 Sep 2011 00:00:00 +0530 Sat, 24 Mar 2012 13:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=210750 The court held that Section 234D of the Income-tax Act applies from June 1, 2003, and cannot be retrospectively applied to assessment years prior to its introduction. However, if the regular assessment is completed after this date, the provision applies. The court determined that interest on excess refunds is applicable from the date of the regular assessment if completed after the introduction of Section 234D. The Revenue's appeal was allowed, setting aside previous orders and holding the assessee liable to pay interest on the excess refund. Case-Laws Income Tax Thu, 08 Sep 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=210750