https://www.taxtmi.com/caselaws?id=383871 The Court ruled in favor of the petitioner, directing the Revenue to pay an interest amount of Rs. 3.68 crores within two months for wrongfully retaining the petitioner's money. The Court held that the petitioner was entitled to interest due to the illegal attachment and retention of the money, emphasizing that the Income Tax Act provision on interest did not apply in this case. If the payment was delayed, further interest at a rate of 9% per annum would be applicable. en-us Tue, 23 Jul 2019 00:00:00 +0530 Thu, 01 Aug 2019 06:27:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=383871 The Court ruled in favor of the petitioner, directing the Revenue to pay an interest amount of Rs. 3.68 crores within two months for wrongfully retaining the petitioner's money. The Court held that the petitioner was entitled to interest due to the illegal attachment and retention of the money, emphasizing that the Income Tax Act provision on interest did not apply in this case. If the payment was delayed, further interest at a rate of 9% per annum would be applicable. Case-Laws Income Tax Tue, 23 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=383871