https://www.taxtmi.com/caselaws?id=260217 In search and seizure matters, interest is payable on surplus seized cash retained beyond the statutory period under section 132B(4)(b) for the pre-assessment period, and post-assessment refund interest under section 244A must be computed at the rates applicable from time to time rather than at a flat monthly rate. The Court also recognised that unexplained inordinate delay in paying interest already due can justify separate compensation for wrongful retention of money. On these principles, the refusal or restriction of interest was unsustainable and consequential relief followed. en-us Wed, 06 May 2015 00:00:00 +0530 Fri, 05 Jun 2015 15:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=260217 In search and seizure matters, interest is payable on surplus seized cash retained beyond the statutory period under section 132B(4)(b) for the pre-assessment period, and post-assessment refund interest under section 244A must be computed at the rates applicable from time to time rather than at a flat monthly rate. The Court also recognised that unexplained inordinate delay in paying interest already due can justify separate compensation for wrongful retention of money. On these principles, the refusal or restriction of interest was unsustainable and consequential relief followed. Case-Laws Income Tax Wed, 06 May 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=260217