https://www.taxtmi.com/caselaws?id=25029 The court ruled in favor of the petitioner, holding that interest was due on the refundable amounts from the date of the Tribunal's order until the actual refund date. The court emphasized that the Income-tax Officer had no grounds to withhold the refund as the liability for payment of income tax only arises upon assessment and demand notice issuance. Therefore, the court directed the payment of interest to the petitioner in accordance with the provisions of the Income-tax Act. en-us Wed, 18 Nov 1987 00:00:00 +0530 Sat, 23 Jan 2010 18:36:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25029 The court ruled in favor of the petitioner, holding that interest was due on the refundable amounts from the date of the Tribunal's order until the actual refund date. The court emphasized that the Income-tax Officer had no grounds to withhold the refund as the liability for payment of income tax only arises upon assessment and demand notice issuance. Therefore, the court directed the payment of interest to the petitioner in accordance with the provisions of the Income-tax Act. Case-Laws Income Tax Wed, 18 Nov 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25029