Interest on delayed refunds

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....which the total income is determined under this Act, and (b) in any other case, within three months from the end of the month in which the claim for refund is made under this Chapter, the Central Government shall pay the assessee simple interest at ^3[fifteen] per cent per annum on the amount directed to be refunded from the date immediately following the expiry of the period of three ....

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....pril, 1989 or any subsequent assessment years.]     *************** NOTES:- 1. Substituted vide Section 42 of the Taxation Laws (Amendment) Act, 1970 w.e.f. 01-04-1971 before it was read as,  "(1) If the Income-tax Officer does not grant the refund, (a) in any case where the total income of the assessee does not consist solely of income ....

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....riod for which interest is payable." 2. Substituted vide Section 2 of the Direct Tax Laws (Amendment) Act, 1987 w.e.f. 01-04-1988 before it was read as, "Income-tax" 3. Substituted vide Section 24 of the Taxation Laws (Amendment) Act, 1984 w.e.f. 01-10-1984 before it was read as, "twelve" [Section 84 of the Taxation Laws (Amendment) Act, 1984 has c....