https://www.taxtmi.com/caselaws?id=180078 The High Court dismissed the appeal filed by the revenue under section 260A of the Income Tax Act against the order of the Income Tax Appellate Tribunal. The Court upheld the decision of the CIT (A) allowing interest to the assessee under Section 244-A. It was held that interest is compensatory and should be granted to the assessee from the 1st day of the assessment year until the refund was granted, irrespective of any delay attributable to the assessee. The Court emphasized the importance of correctly applying statutory provisions in determining the entitlement of the assessee to interest on refunds. en-us Tue, 16 Dec 2008 00:00:00 +0530 Wed, 16 Mar 2016 11:44:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180078 The High Court dismissed the appeal filed by the revenue under section 260A of the Income Tax Act against the order of the Income Tax Appellate Tribunal. The Court upheld the decision of the CIT (A) allowing interest to the assessee under Section 244-A. It was held that interest is compensatory and should be granted to the assessee from the 1st day of the assessment year until the refund was granted, irrespective of any delay attributable to the assessee. The Court emphasized the importance of correctly applying statutory provisions in determining the entitlement of the assessee to interest on refunds. Case-Laws Income Tax Tue, 16 Dec 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180078