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2011 (2) TMI 1232 - HC - Income TaxInterest on excess refund under section 234D - assessment was completed under s. 143(3) on 20th Dec., 2004 determining the income-tax wherein interest under s. 234D was calculated only from 1st June, 2003 onwards and not from the date of issue of refund which was in March 2002 – Held that:- since s. 234D was inserted into the statute w.e.f. ast June, 2003, no interest under the said section is leviable from any earlier date, assessee is not liable to pay tax from the date of refund and the liability is only from ast June, 2003 when s. 234D came into force, decision in favour of the assessee and against the Revenue
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