https://www.taxtmi.com/caselaws?id=179014 The court upheld that interest is valid under Section 244A of the Income Tax Act on refunds resulting from self-assessment tax paid under Section 140A. Interest is payable from the date of tax payment, not the notice under Section 156, as clarified by various High Court decisions and supported by the Supreme Court. The appeal against the Revenue was dismissed, with costs imposed on the Revenue, emphasizing the importance of timely interest payments on refunds to compensate for undue retention of funds. en-us Thu, 26 Feb 2015 00:00:00 +0530 Thu, 18 Feb 2016 07:08:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=179014 The court upheld that interest is valid under Section 244A of the Income Tax Act on refunds resulting from self-assessment tax paid under Section 140A. Interest is payable from the date of tax payment, not the notice under Section 156, as clarified by various High Court decisions and supported by the Supreme Court. The appeal against the Revenue was dismissed, with costs imposed on the Revenue, emphasizing the importance of timely interest payments on refunds to compensate for undue retention of funds. Case-Laws Income Tax Thu, 26 Feb 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=179014