https://www.taxtmi.com/caselaws?id=21242 The dominant issue was whether interest on tax refund for AYs 1957-58 to 1961-62 was payable under s. 244 of the Income-tax Act, 1961, having regard to the transitional provision in s. 297(2)(i), despite the original assessments being under the repealed Act. The HC held that the right to refund, once arising, could not be defeated by a procedural transition, and that s. 297 could not be construed to deny substantive entitlement to interest merely because assessments related to the earlier regime. Treating the refund mechanism as procedural, the HC directed the Revenue to issue refund and pay interest at 12% within six months. en-us Wed, 14 Aug 1991 00:00:00 +0530 Thu, 01 Jan 2026 14:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21242 The dominant issue was whether interest on tax refund for AYs 1957-58 to 1961-62 was payable under s. 244 of the Income-tax Act, 1961, having regard to the transitional provision in s. 297(2)(i), despite the original assessments being under the repealed Act. The HC held that the right to refund, once arising, could not be defeated by a procedural transition, and that s. 297 could not be construed to deny substantive entitlement to interest merely because assessments related to the earlier regime. Treating the refund mechanism as procedural, the HC directed the Revenue to issue refund and pay interest at 12% within six months. Case-Laws Income Tax Wed, 14 Aug 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21242