TMI BlogInterest on refund where no claim is neededX X X X Extracts X X X X X X X X Extracts X X X X ..... h such order is passed], the Central Government shall pay to the assessee simple interest at 3 [fifteen] per cent per annum on the amount of refund due from the date immediately following the expiry of the period of 4 [three] months aforesaid to the date on which the refund is granted. 5 [(1A) Where the whole or any part of the refund referred to in sub-section (1) is due to the assess ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ss, from the date on which such instalment was paid to the date on which the refund is granted : Provided further that no interest under this sub-section shall be payable for a period of one month from the date of the passing of the order in appeal or other proceeding : Provided also that where any interest is payable to an assessee under this sub-section, no interest under sub-section ( ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s (Amendment) Act, 1987, w.e.f. 1-4-1988. 2. Substituted for six months from the date of such order by the Taxation Laws (Amendment) Act, 1970, w.e.f. 1-4-1971. 3. Substituted for twelve by the Taxation Laws (Amendment) Act, 1984, w.e.f. 1-10-1984. Earlier, twelve was substituted for nine by the Finance Act, 1972, w.e.f. 1-4-1972, nine was substituted for six by the Taxation ..... X X X X Extracts X X X X X X X X Extracts X X X X
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