https://www.taxtmi.com/caselaws?id=245765 Interest under section 234D of the Income-tax Act was held chargeable where the refund had been granted before the provision was inserted but the regular assessment was completed after its commencement. The Court followed its earlier binding decision and reasoned that liability to pay interest on an excess refund arises on completion of the regular assessment, so the provision applied because that assessment occurred after 1 June 2003. The substantial questions of law were answered in favour of the Revenue. en-us Tue, 23 Jul 2013 00:00:00 +0530 Sun, 06 Apr 2014 11:25:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=245765 Interest under section 234D of the Income-tax Act was held chargeable where the refund had been granted before the provision was inserted but the regular assessment was completed after its commencement. The Court followed its earlier binding decision and reasoned that liability to pay interest on an excess refund arises on completion of the regular assessment, so the provision applied because that assessment occurred after 1 June 2003. The substantial questions of law were answered in favour of the Revenue. Case-Laws Income Tax Tue, 23 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=245765