https://www.taxtmi.com/caselaws?id=278140 The High Court of Bombay ruled in favor of the Petitioner in a case concerning the entitlement to interest on a delayed refund of excess tax paid. The Court held that the denial of interest due to a mistake by the assessee would render the relevant provision meaningless. Emphasizing the statutory obligation to pay interest on refunds, the Court directed the Assessing Officer to calculate and pay interest to the Petitioner on the refunded amount from the date of filing the revision application. The decision was based on the analysis of Section 244A of the Income-tax Act and previous legal precedents supporting the claim for interest on refunds. en-us Tue, 16 Sep 2014 00:00:00 +0530 Sat, 12 Jan 2019 07:00:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=278140 The High Court of Bombay ruled in favor of the Petitioner in a case concerning the entitlement to interest on a delayed refund of excess tax paid. The Court held that the denial of interest due to a mistake by the assessee would render the relevant provision meaningless. Emphasizing the statutory obligation to pay interest on refunds, the Court directed the Assessing Officer to calculate and pay interest to the Petitioner on the refunded amount from the date of filing the revision application. The decision was based on the analysis of Section 244A of the Income-tax Act and previous legal precedents supporting the claim for interest on refunds. Case-Laws Income Tax Tue, 16 Sep 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=278140