High Court rules taxpayers are entitled to interest on refunds u/s 244A, even if refund is less than 10% of assessed tax.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Grant of interest u/s 244A(1)(a) on the refund admissible to appellant - ITAT refused to grant interest on the ground that the refund arising on regular assessment after allowing TDS and advance tax is less than 10% of the tax as determined on regular assessment - The High Court examines the arguments presented by both parties and concludes that the appellant is entitled to interest under Section 244A of the Act on the refunded amount.....