https://www.taxtmi.com/caselaws?id=28974 A refund-interest claim arising only after commencement of the Income-tax Act, 1961 was held to fall under Section 244(1) read with Section 297(2)(i), not Section 66(7) of the Income-tax Act, 1922. The Court reasoned that the decisive factor was when the right to refund arose; because the claim matured after the 1961 Act came into force, the later statutory regime applied. It also rejected reliance on the Income-tax (Removal of Difficulties) Order, 1962, since its deeming fiction applied only to claims already arising before commencement. As the refund was made within the period prescribed by Section 244, no interest was payable. en-us Thu, 14 Feb 1980 00:00:00 +0530 Tue, 09 Mar 2010 11:31:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28974 A refund-interest claim arising only after commencement of the Income-tax Act, 1961 was held to fall under Section 244(1) read with Section 297(2)(i), not Section 66(7) of the Income-tax Act, 1922. The Court reasoned that the decisive factor was when the right to refund arose; because the claim matured after the 1961 Act came into force, the later statutory regime applied. It also rejected reliance on the Income-tax (Removal of Difficulties) Order, 1962, since its deeming fiction applied only to claims already arising before commencement. As the refund was made within the period prescribed by Section 244, no interest was payable. Case-Laws Income Tax Thu, 14 Feb 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28974