Amendment of section 243

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.... section 243 of the Income-tax Act, for sub-section (1), the following sub-section shall be substituted, namely: - "(1) If the Income-tax Officer does not grant the refund,- (a) in a....

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....ll pay the assessee simple interest at nine per cent. per annum on the amount directed to be refunded from the date immediately following the expiry of the period of three months aforesaid to the date....