https://www.taxtmi.com/caselaws?id=14285 Where assets are seized in a search under section 132 of the Income-tax Act, delayed-refund interest is governed by the specific scheme in section 132B, not by the general refund-interest provision in section 244A(1)(b). The High Court held that section 132 is a self-contained code for retention, adjustment and refund of seized assets, and that section 132B(4) alone governs any entitlement to simple interest on late refund. The claim under section 244A(1)(b) was therefore rejected, and the writ was dismissed in favour of the Revenue. en-us Wed, 14 Feb 2001 00:00:00 +0530 Wed, 15 Jul 2009 10:23:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14285 Where assets are seized in a search under section 132 of the Income-tax Act, delayed-refund interest is governed by the specific scheme in section 132B, not by the general refund-interest provision in section 244A(1)(b). The High Court held that section 132 is a self-contained code for retention, adjustment and refund of seized assets, and that section 132B(4) alone governs any entitlement to simple interest on late refund. The claim under section 244A(1)(b) was therefore rejected, and the writ was dismissed in favour of the Revenue. Case-Laws Income Tax Wed, 14 Feb 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14285