2003 (4) TMI 58 - HC - Income Tax

Estate Duty Act 1953 - petitioner in this writ petition seeks a mandamus commanding the respondents to pay interest to the petitioner on Rs. 13, 78, 111 at the rate of eight per cent. from January 1 1986 up to February 8 1999 and at the rate of 12 per cent. thereafter up to April 13 2000 which is the date of the refund order. - Considering the facts and circumstances of the case instead of remanding the matter we direct that the petitioner shall be entitled to the simple interest at the rate of six per cent. on the amount which has remained with the respondent.

Summary

The petitioner sought interest on a refunded amount under the Estate Duty Act. The High Court directed the respondent to pay simple interest at six per cent within two months. The writ petition was disposed of accordingly.