https://www.taxtmi.com/caselaws?id=765275 ITAT Mumbai held that the assessee was entitled to interest on refund arising from excess self-assessment tax under section 244A(1)(b), despite 68 months delay from December 2014 to July 2020. The tribunal ruled that Finance Act 2016's amendment introducing clause (aa) clarified existing provisions rather than creating new rights. For delayed refund, additional interest was granted from June 1, 2016 (when subsection 1A was introduced) till refund date. Assessee's appeal was partly allowed; revenue's appeal dismissed. en-us Tue, 31 Dec 2024 00:00:00 +0530 Wed, 29 Jan 2025 09:00:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=765275 ITAT Mumbai held that the assessee was entitled to interest on refund arising from excess self-assessment tax under section 244A(1)(b), despite 68 months delay from December 2014 to July 2020. The tribunal ruled that Finance Act 2016's amendment introducing clause (aa) clarified existing provisions rather than creating new rights. For delayed refund, additional interest was granted from June 1, 2016 (when subsection 1A was introduced) till refund date. Assessee's appeal was partly allowed; revenue's appeal dismissed. Case-Laws Income Tax Tue, 31 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=765275