High Court: Interest Due on Excess Refunds Before Section 234D, Applicable From June 1, 2003, Regardless of Assessment Year.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Levy of interest for assessment years prior to the introduction of the section 234D- Regular assessment was completed on 30 March 2004 the provision on interest is not introduced with reference to any assessment year but with effect from 1 June 03 - Assessee is liable to pay interest on the excess refund amount received. - HC....