https://www.taxtmi.com/caselaws?id=397880 The court upheld the decision of the Assessing Officer regarding interest payment under Section 244-A of the Income Tax Act for delayed refunds. The ITAT's direction to pay compensation in the form of simple interest was challenged by the appellant, but the court dismissed the appeal, emphasizing the absence of a provision for such compensation under the Act. The court referred to a previous judgment clarifying that interest on delayed refunds is part of the principal amount, supporting the assessee's entitlement to interest for the delay. The jurisdiction of the High Court in appeals based on monetary limits was examined, with the court dismissing the appeal due to the lack of a valid question challenging the legality of the order. en-us Thu, 27 Aug 2020 00:00:00 +0530 Mon, 09 Nov 2020 17:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=397880 The court upheld the decision of the Assessing Officer regarding interest payment under Section 244-A of the Income Tax Act for delayed refunds. The ITAT's direction to pay compensation in the form of simple interest was challenged by the appellant, but the court dismissed the appeal, emphasizing the absence of a provision for such compensation under the Act. The court referred to a previous judgment clarifying that interest on delayed refunds is part of the principal amount, supporting the assessee's entitlement to interest for the delay. The jurisdiction of the High Court in appeals based on monetary limits was examined, with the court dismissing the appeal due to the lack of a valid question challenging the legality of the order. Case-Laws Income Tax Thu, 27 Aug 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=397880