https://www.taxtmi.com/caselaws?id=20260 The High Court held that interest awarded under section 214 does not constitute a refund and is taxable in the hands of a non-resident company. The Court ruled against the company, stating that the interest cannot be claimed by the purchaser as per the agreement clauses related to tax liabilities and refunds. The Tribunal's decision that the interest was not taxable was overturned, and the judgment was to be forwarded to the Income-tax Appellate Tribunal for further action. en-us Fri, 06 Aug 1993 00:00:00 +0530 Thu, 12 Nov 2009 17:53:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20260 The High Court held that interest awarded under section 214 does not constitute a refund and is taxable in the hands of a non-resident company. The Court ruled against the company, stating that the interest cannot be claimed by the purchaser as per the agreement clauses related to tax liabilities and refunds. The Tribunal's decision that the interest was not taxable was overturned, and the judgment was to be forwarded to the Income-tax Appellate Tribunal for further action. Case-Laws Income Tax Fri, 06 Aug 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20260