https://www.taxtmi.com/caselaws?id=275974 On a reduction of assessment under section 66(7) of the Income-tax Act, the proviso was construed as requiring refund of excess tax with interest, while leaving the Commissioner only a limited discretion to fix the rate. That discretion had to be exercised reasonably and in accordance with law, and could not be used to refuse interest altogether. A complete denial of interest was treated as inconsistent with the statutory scheme and beyond the Commissioner's authority, and the refusal was held illegal and ultra vires, with reconsideration of the interest claim directed according to law. en-us Sat, 24 Aug 1957 00:00:00 +0530 Wed, 24 Oct 2018 14:37:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=275974 On a reduction of assessment under section 66(7) of the Income-tax Act, the proviso was construed as requiring refund of excess tax with interest, while leaving the Commissioner only a limited discretion to fix the rate. That discretion had to be exercised reasonably and in accordance with law, and could not be used to refuse interest altogether. A complete denial of interest was treated as inconsistent with the statutory scheme and beyond the Commissioner's authority, and the refusal was held illegal and ultra vires, with reconsideration of the interest claim directed according to law. Case-Laws Income Tax Sat, 24 Aug 1957 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=275974