https://www.taxtmi.com/caselaws?id=8366 A beneficial refund-with-interest provision applied to a pending estate duty matter where a High Court reference resulted in reduction of the assessment. Section 64(7) was held to require only a reference under section 64(1) and a consequent reduction in assessment; it was not confined to assessments initiated after the amendment. Once those conditions were met, the right to refund with interest accrued, and the Controller had discretion only over the rate of interest, not to refuse interest altogether. The assessee was therefore entitled to refund of the overpaid estate duty with reasonable interest. en-us Mon, 15 Feb 1971 00:00:00 +0530 Fri, 10 Apr 2009 17:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8366 A beneficial refund-with-interest provision applied to a pending estate duty matter where a High Court reference resulted in reduction of the assessment. Section 64(7) was held to require only a reference under section 64(1) and a consequent reduction in assessment; it was not confined to assessments initiated after the amendment. Once those conditions were met, the right to refund with interest accrued, and the Controller had discretion only over the rate of interest, not to refuse interest altogether. The assessee was therefore entitled to refund of the overpaid estate duty with reasonable interest. Case-Laws Income Tax Mon, 15 Feb 1971 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8366