https://www.taxtmi.com/caselaws?id=360593 The court ruled in favor of the assessee, holding that Section 234B of the Income Tax Act does not apply to situations where a refund granted under Section 143(1) is later found to be in excess or not due upon regular assessment. The court emphasized that the introduction of Section 234D specifically addressed such scenarios and charging interest under Section 234B in this context would render Section 234D redundant. The court set aside the Tribunal's judgment and directed the Revenue authority to comply with the ruling. en-us Tue, 27 Feb 2018 00:00:00 +0530 Fri, 18 May 2018 13:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=360593 The court ruled in favor of the assessee, holding that Section 234B of the Income Tax Act does not apply to situations where a refund granted under Section 143(1) is later found to be in excess or not due upon regular assessment. The court emphasized that the introduction of Section 234D specifically addressed such scenarios and charging interest under Section 234B in this context would render Section 234D redundant. The court set aside the Tribunal's judgment and directed the Revenue authority to comply with the ruling. Case-Laws Income Tax Tue, 27 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=360593