https://www.taxtmi.com/caselaws?id=170029 The court upheld the Tribunal's decision, confirming the assessee's entitlement to interest under section 244A(1)(b) on the refund of self-assessment tax. It emphasized that self-assessment tax, once adjusted against assessed tax, transforms into tax paid, warranting interest. The court supported the Tribunal's interpretation of the Explanation under section 244A, aligning it with the purpose of fair compensation. Additionally, it affirmed that the date of self-assessment tax payment should be considered for interest calculation. The court dismissed the Revenue's appeal, endorsing the Tribunal's inference on interest period. en-us Mon, 25 Aug 2014 00:00:00 +0530 Wed, 13 May 2015 18:14:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=170029 The court upheld the Tribunal's decision, confirming the assessee's entitlement to interest under section 244A(1)(b) on the refund of self-assessment tax. It emphasized that self-assessment tax, once adjusted against assessed tax, transforms into tax paid, warranting interest. The court supported the Tribunal's interpretation of the Explanation under section 244A, aligning it with the purpose of fair compensation. Additionally, it affirmed that the date of self-assessment tax payment should be considered for interest calculation. The court dismissed the Revenue's appeal, endorsing the Tribunal's inference on interest period. Case-Laws Income Tax Mon, 25 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=170029