https://www.taxtmi.com/caselaws?id=271466 The Court held in favor of the petitioner, a public limited company, granting entitlement to interest under Section 244A of the Income Tax Act. The petitioner, acting as a representative assessee, was deemed eligible for a refund and interest on TDS payments to a German company. The Court emphasized that interest on refunds serves as compensation for unauthorized retention of funds by tax authorities. Additionally, the Court deemed a communication from the Central Board of Direct Taxes invalid as it contradicted statutory provisions mandating interest payment on refunds. The petition was allowed, directing the respondents to pay interest from the date of the refund application. en-us Tue, 19 Jan 2016 00:00:00 +0530 Thu, 17 Nov 2016 18:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=271466 The Court held in favor of the petitioner, a public limited company, granting entitlement to interest under Section 244A of the Income Tax Act. The petitioner, acting as a representative assessee, was deemed eligible for a refund and interest on TDS payments to a German company. The Court emphasized that interest on refunds serves as compensation for unauthorized retention of funds by tax authorities. Additionally, the Court deemed a communication from the Central Board of Direct Taxes invalid as it contradicted statutory provisions mandating interest payment on refunds. The petition was allowed, directing the respondents to pay interest from the date of the refund application. Case-Laws Income Tax Tue, 19 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=271466