Interest on refund - Where it is found that no refund has been ...

Income Tax

May 22, 2020

Interest on refund - Where it is found that no refund has been granted pursuant to intimation u/s 143(1), the assessee shall be granted relief from such levy of interest u/s 234D and consequentially, levy of interest u/s 220(2) will also undergo a change and the Assessing officer is directed to recompute the interest u/s 220(2) after granting credit for amount paid towards the outstanding taxes instead of interest u/s 234D as done correctly.

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Interest on refund - Where it is found that no refund has been ...

Income Tax

May 22, 2020

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