https://www.taxtmi.com/caselaws?id=419099 The High Court remitted the issue back to the Tribunal for fresh consideration regarding the entitlement to interest under Section 244A of the Income Tax Act. The Tribunal held that the assessee is not entitled to interest on interest unless there is an inordinate delay in granting the refund. The Tribunal dismissed the appeal, stating that only the interest provided under the statute may be claimed by the assessee from the revenue, and no other interest on such statutory interest is permissible. The Tribunal clarified that its earlier decision directing the manner of computing interest exceeded its authority and scope. en-us Wed, 23 Feb 2022 00:00:00 +0530 Thu, 03 Mar 2022 06:50:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=419099 The High Court remitted the issue back to the Tribunal for fresh consideration regarding the entitlement to interest under Section 244A of the Income Tax Act. The Tribunal held that the assessee is not entitled to interest on interest unless there is an inordinate delay in granting the refund. The Tribunal dismissed the appeal, stating that only the interest provided under the statute may be claimed by the assessee from the revenue, and no other interest on such statutory interest is permissible. The Tribunal clarified that its earlier decision directing the manner of computing interest exceeded its authority and scope. Case-Laws Income Tax Wed, 23 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=419099