https://www.taxtmi.com/caselaws?id=245813 The Supreme Court ruled in favor of the assessee, holding that interest under section 244A of the Income Tax Act, 1961 is applicable on the refund of taxes paid pursuant to the order passed under section 195 of the Act. The Court emphasized that the refund of tax should carry interest to compensate for the unauthorized retention of money by the tax department. Consequently, the Tribunal set aside the Commissioner (Appeals) decision and directed the Assessing Officer to grant the interest, allowing the assessee's appeal. en-us Fri, 28 Mar 2014 00:00:00 +0530 Tue, 08 Apr 2014 15:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=245813 The Supreme Court ruled in favor of the assessee, holding that interest under section 244A of the Income Tax Act, 1961 is applicable on the refund of taxes paid pursuant to the order passed under section 195 of the Act. The Court emphasized that the refund of tax should carry interest to compensate for the unauthorized retention of money by the tax department. Consequently, the Tribunal set aside the Commissioner (Appeals) decision and directed the Assessing Officer to grant the interest, allowing the assessee's appeal. Case-Laws Income Tax Fri, 28 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=245813