https://www.taxtmi.com/caselaws?id=423510 In insolvency proceedings, where the estate was under the Official Assignee's control and tax was paid belatedly, the Court directed recomputation of interest at 6% per annum without compound interest and waived interest and penalty for non-payment of advance tax. The relief was limited to the interest burden because the assessment orders were not challenged; the underlying tax liability was left undisturbed and the refund claim was rejected. en-us Wed, 09 Feb 2022 00:00:00 +0530 Fri, 17 Jun 2022 12:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=423510 In insolvency proceedings, where the estate was under the Official Assignee's control and tax was paid belatedly, the Court directed recomputation of interest at 6% per annum without compound interest and waived interest and penalty for non-payment of advance tax. The relief was limited to the interest burden because the assessment orders were not challenged; the underlying tax liability was left undisturbed and the refund claim was rejected. Case-Laws Income Tax Wed, 09 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=423510