https://www.taxtmi.com/caselaws?id=186382 The Tribunal ruled in favor of the assessee, an investment company, in a dispute concerning the calculation of interest under section 244A of the IT Act. The Tribunal held that interest should be computed until the date of the refund voucher, not just up to the assessment order or intimation date. Emphasizing the need to expedite refund processes to prevent hardship to taxpayers, the Tribunal referenced a CBDT circular supporting interest calculation until the refund voucher date. The Tribunal also awarded costs to the assessee under section 255(2B) due to the unnecessary dispute caused by the tax authorities' incorrect interpretation, directing the respondent to pay the costs within one month. en-us Mon, 06 Nov 2000 00:00:00 +0530 Thu, 15 Sep 2016 18:24:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=186382 The Tribunal ruled in favor of the assessee, an investment company, in a dispute concerning the calculation of interest under section 244A of the IT Act. The Tribunal held that interest should be computed until the date of the refund voucher, not just up to the assessment order or intimation date. Emphasizing the need to expedite refund processes to prevent hardship to taxpayers, the Tribunal referenced a CBDT circular supporting interest calculation until the refund voucher date. The Tribunal also awarded costs to the assessee under section 255(2B) due to the unnecessary dispute caused by the tax authorities' incorrect interpretation, directing the respondent to pay the costs within one month. Case-Laws Income Tax Mon, 06 Nov 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=186382