https://www.taxtmi.com/caselaws?id=211596 The court condoned a 150-day delay in appealing and addressed the interpretation of interest under section 234D of the Income Tax Act, 1961. It clarified that interest liability under section 234D is prospective from June 2003, emphasizing the amendment's significance. The judgment highlighted that interest on refunds is payable from the date of refund to the regular assessment date, not retrospectively. Relying on precedents and statutory interpretation, the court ruled in favor of the assessee, stating that interest liability commences from the enactment of section 234D in June 2003, not from the refund date. en-us Mon, 07 Feb 2011 00:00:00 +0530 Tue, 27 Mar 2012 07:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=211596 The court condoned a 150-day delay in appealing and addressed the interpretation of interest under section 234D of the Income Tax Act, 1961. It clarified that interest liability under section 234D is prospective from June 2003, emphasizing the amendment's significance. The judgment highlighted that interest on refunds is payable from the date of refund to the regular assessment date, not retrospectively. Relying on precedents and statutory interpretation, the court ruled in favor of the assessee, stating that interest liability commences from the enactment of section 234D in June 2003, not from the refund date. Case-Laws Income Tax Mon, 07 Feb 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=211596