https://www.taxtmi.com/caselaws?id=36996 Interest on a refund arising from reduction of assessment under the proviso to section 66(7) of the Indian Income-tax Act, 1922 runs from the date the tax was actually paid, because the later reduction merely reveals that the earlier payment was overpaid. The Commissioner may regulate the rate of interest on the refund, but cannot lawfully postpone the commencement date to a later point such as the date of the High Court's order or the appellate order giving effect to it. Where the refunded amount is adjusted against subsequent tax arrears, interest continues only until the date of such adjustment. en-us Thu, 13 Dec 1979 00:00:00 +0530 Thu, 25 Mar 2010 17:29:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36996 Interest on a refund arising from reduction of assessment under the proviso to section 66(7) of the Indian Income-tax Act, 1922 runs from the date the tax was actually paid, because the later reduction merely reveals that the earlier payment was overpaid. The Commissioner may regulate the rate of interest on the refund, but cannot lawfully postpone the commencement date to a later point such as the date of the High Court's order or the appellate order giving effect to it. Where the refunded amount is adjusted against subsequent tax arrears, interest continues only until the date of such adjustment. Case-Laws Income Tax Thu, 13 Dec 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36996