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2011 (9) TMI 21 - HC - Income TaxInterest u/s.234D - Retrospective application or not - Section 234D is attracted only when the refunds granted to the assessee under Section 143(1) of the Act becomes refundable to the Revenue on regular assessment - Held that:- refund was not granted to the assessee under Section 143(1) of the Act - the refund was not granted even under the assessment order passed under Section 143(3) read with Section 147 of the Act, but the same was granted pursuant to the orders passed by the CIT (A) - Therefore, the decision of the ITAT in holding that in the facts of the present case, Section 234D is not applicable cannot be faulted.
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