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2009 (10) TMI 555 - KERALA HIGH COURTInterest income - interest received by the assessee on refund relating to previous year - Tribunal holding that income assessable to tax in the assessment year in which such interest is granted to the assessee along with the refund - Held that: - assessee's eligibility for interest on refund arises only when the assessment is revised in terms of the appellate order by the Officer under section 143 of the Income-tax Act - interest accrues only when the assessee is found to be eligible for refund of excess tax on revision of assessment based on orders in appeal - refund voucher is also issued to the assessee in the year 1994-95 and so much so, interest under section 244(1A) in this case accrued to the assessee and was also paid to the assessee in the previous year relevant for the assessment year 1994-95 - uphold the order of the Tribunal and dismiss the appeal
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