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1994 (12) TMI 71 - HC - Income TaxExtract: .......f the apex court. We, therefore, answer the question in favour of the Department by holding that the income received by the assessee by way of interest under section 244 of the Income-tax Act on refund determined and quantified under section 240 of the said Act was assessable only in the year of receipt and not earlier. G. B. PATNAIK J. -- I agree.
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