https://www.taxtmi.com/caselaws?id=216736 The court held that the petitioner was entitled to interest under Section 244-A of the Income-tax Act on the refund amount, affirming that the deposited tax amount could not be treated as interest. The rectification order withdrawing interest under Section 244-A was deemed invalid as it was based on assumptions rather than verified facts. The court determined that the payment made by the petitioner was towards tax and not interest, setting aside the rectification order and revision order. The petitioner was granted the refund amount along with interest from the date of deposits. en-us Fri, 06 Jul 2012 00:00:00 +0530 Fri, 31 Aug 2012 17:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=216736 The court held that the petitioner was entitled to interest under Section 244-A of the Income-tax Act on the refund amount, affirming that the deposited tax amount could not be treated as interest. The rectification order withdrawing interest under Section 244-A was deemed invalid as it was based on assumptions rather than verified facts. The court determined that the payment made by the petitioner was towards tax and not interest, setting aside the rectification order and revision order. The petitioner was granted the refund amount along with interest from the date of deposits. Case-Laws Income Tax Fri, 06 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=216736