https://www.taxtmi.com/caselaws?id=283384 The Appellate Tribunal ITAT Mumbai held that interest under section 244A of the Income Tax Act should be granted on delayed refunds, citing the case of Sandvik Asia Ltd. v. CIT. The Tribunal emphasized that the department must compensate for delays in refunding amounts due to the assessee by paying interest. The Tribunal set aside the CIT(A)'s order and directed the Assessing Officer to pay interest to the assessee in both appeals filed for A.Y. 1999-2000 and A.Y. 2000-01. en-us Fri, 13 May 2011 00:00:00 +0530 Fri, 20 Sep 2019 15:55:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=283384 The Appellate Tribunal ITAT Mumbai held that interest under section 244A of the Income Tax Act should be granted on delayed refunds, citing the case of Sandvik Asia Ltd. v. CIT. The Tribunal emphasized that the department must compensate for delays in refunding amounts due to the assessee by paying interest. The Tribunal set aside the CIT(A)'s order and directed the Assessing Officer to pay interest to the assessee in both appeals filed for A.Y. 1999-2000 and A.Y. 2000-01. Case-Laws Income Tax Fri, 13 May 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=283384