https://www.taxtmi.com/caselaws?id=390198 The Supreme Court allowed the appeal and directed the Department to pay interest on the refunded amount in accordance with Section 244-A of the Income Tax Act. The Court emphasized that interest serves as compensation for the unauthorized retention and use of funds by the Department, extending this entitlement not only to the assessee but also to residents/deductors who have deposited tax at source. The judgment highlighted the importance of ensuring fair treatment and compensation for funds held by the Government and subsequently refunded. en-us Thu, 12 Dec 2019 00:00:00 +0530 Tue, 07 Jan 2020 17:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=390198 The Supreme Court allowed the appeal and directed the Department to pay interest on the refunded amount in accordance with Section 244-A of the Income Tax Act. The Court emphasized that interest serves as compensation for the unauthorized retention and use of funds by the Department, extending this entitlement not only to the assessee but also to residents/deductors who have deposited tax at source. The judgment highlighted the importance of ensuring fair treatment and compensation for funds held by the Government and subsequently refunded. Case-Laws Income Tax Thu, 12 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=390198