https://www.taxtmi.com/caselaws?id=361229 The Tribunal held that, under the Income-tax Act, there is no statutory right to receive interest on delayed payment of statutory interest or compensation for delay in refunding interest arising from seized money. It distinguished the High Court ruling relied on by the assessee, noting that compensation for inordinate delay was granted there under the court's inherent power and not under any express provision of the Act. In the absence of a specific statutory basis, the additional claim for interest or compensation on delayed refund of interest was not maintainable. en-us Wed, 30 May 2018 00:00:00 +0530 Sat, 02 Jun 2018 12:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=361229 The Tribunal held that, under the Income-tax Act, there is no statutory right to receive interest on delayed payment of statutory interest or compensation for delay in refunding interest arising from seized money. It distinguished the High Court ruling relied on by the assessee, noting that compensation for inordinate delay was granted there under the court's inherent power and not under any express provision of the Act. In the absence of a specific statutory basis, the additional claim for interest or compensation on delayed refund of interest was not maintainable. Case-Laws Income Tax Wed, 30 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=361229