Interest on excess refund

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Full Text of the Document

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....n 143 exceeds the amount refundable on regular assessment, the assessee shall be liable to pay simple interest at the rate of 2[one-half] per cent on the whole or the excess amount so refunded, for every month or part of a month comprised in the period from the date of grant of refund to the date of such regular assessment. (2) Where, as a result of an order under section 154 or section 155 or s....