https://www.taxtmi.com/caselaws?id=350710 The Supreme Court held that the assessee was entitled to interest under Section 244(A) of the Income-Tax Act, 1961, on the refund resulting from the Settlement Commission's waiver of interest. The Court clarified that once the Settlement Commission exercises its discretion to waive interest, the assessee has a right to the refund and corresponding interest. The Court emphasized the legislative intent behind Section 244(A) to simplify provisions and ensure interest on delayed refunds. The appeals were allowed, setting aside the High Court's judgment, and affirming the decisions granting interest on the refund to the assessee. en-us Wed, 01 Nov 2017 00:00:00 +0530 Tue, 26 Dec 2017 10:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=350710 The Supreme Court held that the assessee was entitled to interest under Section 244(A) of the Income-Tax Act, 1961, on the refund resulting from the Settlement Commission's waiver of interest. The Court clarified that once the Settlement Commission exercises its discretion to waive interest, the assessee has a right to the refund and corresponding interest. The Court emphasized the legislative intent behind Section 244(A) to simplify provisions and ensure interest on delayed refunds. The appeals were allowed, setting aside the High Court's judgment, and affirming the decisions granting interest on the refund to the assessee. Case-Laws Income Tax Wed, 01 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=350710