https://www.taxtmi.com/caselaws?id=770020 HC dismissed contempt application involving tax seizure and interest calculation. Court held that Rs. 42,32,000 payment fully complied with prior order. Interest under Income Tax Act Sections 132B(4)(b) and 244A(1)(b) determined as simple interest at 1.5% monthly, not compound. No willful disobedience found, and no additional compensation warranted. Statutory interpretation emphasized simple interest calculation without compound interest provisions. en-us Tue, 29 Apr 2025 00:00:00 +0530 Mon, 05 May 2025 08:37:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=770020 HC dismissed contempt application involving tax seizure and interest calculation. Court held that Rs. 42,32,000 payment fully complied with prior order. Interest under Income Tax Act Sections 132B(4)(b) and 244A(1)(b) determined as simple interest at 1.5% monthly, not compound. No willful disobedience found, and no additional compensation warranted. Statutory interpretation emphasized simple interest calculation without compound interest provisions. Case-Laws Income Tax Tue, 29 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=770020