https://www.taxtmi.com/caselaws?id=60122 The Appellate Tribunal ITAT CALCUTTA-B ruled on whether interest on refunds for assessment years 1968-69 and 1976-77 should be allowed. The department argued refunds arose only upon final assessment, while the assessee claimed refunds arose when assessments were set aside. For 1968-69, refunds were deemed immediately payable after final assessment. For 1976-77, amounts paid before regular assessment were held as deposits for adjustment. The Tribunal upheld immediate refund for 1968-69 and deposit status for 1976-77. Appeal for 1968-69 was dismissed, and appeal for 1976-77 was allowed. en-us Fri, 18 Apr 1986 00:00:00 +0530 Mon, 03 Jan 2011 17:51:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60122 The Appellate Tribunal ITAT CALCUTTA-B ruled on whether interest on refunds for assessment years 1968-69 and 1976-77 should be allowed. The department argued refunds arose only upon final assessment, while the assessee claimed refunds arose when assessments were set aside. For 1968-69, refunds were deemed immediately payable after final assessment. For 1976-77, amounts paid before regular assessment were held as deposits for adjustment. The Tribunal upheld immediate refund for 1968-69 and deposit status for 1976-77. Appeal for 1968-69 was dismissed, and appeal for 1976-77 was allowed. Case-Laws Income Tax Fri, 18 Apr 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60122