https://www.taxtmi.com/caselaws?id=5250 An assessment completed by the Income-tax Officer before the commencement of the Income-tax Act, 1961 was treated as a completed assessment under section 297(2)(i), even though appeals remained pending, so the claim for interest on an income-tax refund was governed by the 1961 Act and the corresponding claim under the repealed 1922 Act did not survive. By contrast, interest on refund of excess profits tax was considered under the separate statutory scheme in the Excess Profits Tax Act, 1940, which incorporated the relevant interest provision. On the special facts, relief was granted directly in the appeal and payment of the quantified amount with pendente lite and future interest was ordered. en-us Fri, 11 Dec 1987 00:00:00 +0530 Fri, 07 Apr 2017 11:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5250 An assessment completed by the Income-tax Officer before the commencement of the Income-tax Act, 1961 was treated as a completed assessment under section 297(2)(i), even though appeals remained pending, so the claim for interest on an income-tax refund was governed by the 1961 Act and the corresponding claim under the repealed 1922 Act did not survive. By contrast, interest on refund of excess profits tax was considered under the separate statutory scheme in the Excess Profits Tax Act, 1940, which incorporated the relevant interest provision. On the special facts, relief was granted directly in the appeal and payment of the quantified amount with pendente lite and future interest was ordered. Case-Laws Income Tax Fri, 11 Dec 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5250