2014 (5) TMI 119 - SCH - Income Tax

Validity of direction of HC 2014 (5) TMI 118 - HIMACHAL PRADESH HIGH COURT Refund to be made without interest Held that - The direction should not have been given when there is a statutory provision with regard to the payment of interest - the amount of refund should be given to the appellant along with statutory interest as per the provisions of Income Tax Act 1961 Decided in favor of revenue.

Summary

The Supreme Court granted leave and modified the High Court's order to include payment of statutory interest along with the refund amount to the appellant as per the Income Tax Act, 1961. The appellant should receive the interest within three months. The appeal was allowed with no costs.