Court Orders 6% Interest on Tax Refund; Rate Rises to 9% if Unpaid by Feb 15, 2024; Officer Liable for Extra Interest.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Payment of interest u/s 244A to the deductor on the refund of tax made u/s 240 - Since we have awarded simple interest at 6%, we are not granting any cost in this case. This order shall be given effect to and the interest shall be paid over on or before 15th February 2024 - If not paid, with effect from 16th February 2024, the rate of interest payable will be at 9% p.a. until the date of payment. - The difference of 3% (9% - 6%) will be recovered from the Officer who will be responsible to have the interest paid. - HC....