Interest on Refunds: Taxpayer Entitled to 6% Per Annum Due to Processing Delays Beyond Their Control.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Interest on refunds u/s 244A - whether the assessee was responsible for the delay? - after the petitioner requested the respondents to enable the petitioner to provide the SWIFT code and IBAN, the delay in processing the refund cannot be attributed to the petitioner. - If the delay is not attributable to the assessee, Section 244A provides for refund at the rate of ½% per month or 6% per annum. - HC....