https://www.taxtmi.com/caselaws?id=20811 The court ruled in favor of the company, directing the Department to pay interest under section 244(1A) of the Income-tax Act, 1961, on refund amounts for the assessment years 1973-74 and 1974-75. Interest was to be calculated from specific dates of payment until the refund dates. The court held that section 244(1A) applies to advance tax payments credited towards tax liability post regular assessment. The decision aligned with interpretations from other High Courts and rejected a contrary view. The Department was ordered to calculate and disburse the interest promptly, with the petition partly succeeding and no costs awarded. en-us Thu, 18 Jul 1991 00:00:00 +0530 Tue, 17 Nov 2009 13:14:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20811 The court ruled in favor of the company, directing the Department to pay interest under section 244(1A) of the Income-tax Act, 1961, on refund amounts for the assessment years 1973-74 and 1974-75. Interest was to be calculated from specific dates of payment until the refund dates. The court held that section 244(1A) applies to advance tax payments credited towards tax liability post regular assessment. The decision aligned with interpretations from other High Courts and rejected a contrary view. The Department was ordered to calculate and disburse the interest promptly, with the petition partly succeeding and no costs awarded. Case-Laws Income Tax Thu, 18 Jul 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20811