https://www.taxtmi.com/manuals?id=3160 If a refund due under an order referred to in section 240 is not granted within three months from the end of the month in which the order is passed, the Central Government must pay simple interest at 15% per annum from the day after that three month period until the refund is granted. For amounts later found on appeal to be in excess of liability, the same rate applies from date of payment to refund (with separate treatment for instalments and a one month no interest period), and interest for withheld refunds under section 241 runs from after the three month expiry until grant. en-us Wed, 06 Sep 2023 10:46:00 +0530 Fri, 26 Jul 2024 15:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=3160 If a refund due under an order referred to in section 240 is not granted within three months from the end of the month in which the order is passed, the Central Government must pay simple interest at 15% per annum from the day after that three month period until the refund is granted. For amounts later found on appeal to be in excess of liability, the same rate applies from date of payment to refund (with separate treatment for instalments and a one month no interest period), and interest for withheld refunds under section 241 runs from after the three month expiry until grant. Manuals Income Tax Wed, 06 Sep 2023 10:46:00 +0530 https://www.taxtmi.com/manuals?id=3160