https://www.taxtmi.com/caselaws?id=59458 The Tribunal dismissed the assessees' appeals, upholding the taxation of interest income on refunds under section 244A. The decision emphasized adherence to the mercantile system of accounting and statutory obligations in processing tax returns, rejecting claims of the interest being contingent. The ruling underscored the distinct statutory functions in granting interest to taxpayers and affirmed the actions of lower authorities in taxing the interest income based on established legal principles and precedents. en-us Mon, 29 Oct 2001 00:00:00 +0530 Wed, 29 Dec 2010 18:11:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59458 The Tribunal dismissed the assessees' appeals, upholding the taxation of interest income on refunds under section 244A. The decision emphasized adherence to the mercantile system of accounting and statutory obligations in processing tax returns, rejecting claims of the interest being contingent. The ruling underscored the distinct statutory functions in granting interest to taxpayers and affirmed the actions of lower authorities in taxing the interest income based on established legal principles and precedents. Case-Laws Income Tax Mon, 29 Oct 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59458