https://www.taxtmi.com/caselaws?id=451232 The Madras HC ruled on a petitioner's claim for interest on tax refunds under the DTVSV Act, 2020. The court held that Section 7 of DTVSV Act is a complete code that excludes interest under Section 244-A of the IT Act, 1961 on excess amounts paid under the settlement scheme. However, the court directed that amounts adjusted from refunds for AY 1999-2000 and 2000-2001 be treated as payments under DTVSV Act, requiring issuance of Form 5 to close these cases. The department must process excess refunds for AY 2004-2005 and 2005-2006 with interest under Section 244-A, subject to DTVSV Act provisions. en-us Mon, 11 Mar 2024 00:00:00 +0530 Fri, 06 Mar 2026 14:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=451232 The Madras HC ruled on a petitioner's claim for interest on tax refunds under the DTVSV Act, 2020. The court held that Section 7 of DTVSV Act is a complete code that excludes interest under Section 244-A of the IT Act, 1961 on excess amounts paid under the settlement scheme. However, the court directed that amounts adjusted from refunds for AY 1999-2000 and 2000-2001 be treated as payments under DTVSV Act, requiring issuance of Form 5 to close these cases. The department must process excess refunds for AY 2004-2005 and 2005-2006 with interest under Section 244-A, subject to DTVSV Act provisions. Case-Laws Income Tax Mon, 11 Mar 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=451232