https://www.taxtmi.com/highlights?id=88056 HC rejected the applicant's claim for compound interest under s.244A(1)(b) r.w.s.132B(4)(b), which explicitly provides only for simple interest. The Court clarified that its prior order did not mandate cumulative or compound interest calculation. No statutory provision was identified supporting the interpretation of "cumulative interest" as compound interest. Consequently, the opposite parties cannot be held liable for willful disobedience, as no definitive legal framework exists for computing cumulative interest beyond simple interest prescribed by the statutory provision. en-us Mon, 05 May 2025 08:37:52 +0530 Mon, 05 May 2025 08:37:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=88056 HC rejected the applicant's claim for compound interest under s.244A(1)(b) r.w.s.132B(4)(b), which explicitly provides only for simple interest. The Court clarified that its prior order did not mandate cumulative or compound interest calculation. No statutory provision was identified supporting the interpretation of "cumulative interest" as compound interest. Consequently, the opposite parties cannot be held liable for willful disobedience, as no definitive legal framework exists for computing cumulative interest beyond simple interest prescribed by the statutory provision. Highlights Income Tax Mon, 05 May 2025 08:37:52 +0530 https://www.taxtmi.com/highlights?id=88056