https://www.taxtmi.com/caselaws?id=371925 The Court overturned the Tribunal's decision to grant interest on interest for refunds in the case. The judgment favored the Revenue, rejecting the assessee's claim based on the Gujarat Fluoro Chemicals decision. The Court emphasized that the delay in refund payments did not warrant interest on interest, distinguishing it from compensation for delays. The parties were directed to bear their respective costs, concluding the matter in favor of the Revenue for assessment years 1989-90, 1990-91, 1991-92, 1995-96, 1997-98, and 2001-02. en-us Thu, 01 Nov 2018 00:00:00 +0530 Thu, 13 Dec 2018 17:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=371925 The Court overturned the Tribunal's decision to grant interest on interest for refunds in the case. The judgment favored the Revenue, rejecting the assessee's claim based on the Gujarat Fluoro Chemicals decision. The Court emphasized that the delay in refund payments did not warrant interest on interest, distinguishing it from compensation for delays. The parties were directed to bear their respective costs, concluding the matter in favor of the Revenue for assessment years 1989-90, 1990-91, 1991-92, 1995-96, 1997-98, and 2001-02. Case-Laws Income Tax Thu, 01 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=371925