1973 (3) TMI 7 - SCH - Income Tax

Whether the assessee is entitled to claim interest on the refund which became due to him on the strength of the decision of this court - assessment in this case was completed long before the Income-tax Act 1961 come into force - this case clearly comes within the scope of section 297(2)(i) of these Income-tax Act 1961 and not under section 66(7) of the Indian Income-tax Act 1922 - hence assessee plea is dismissed

Summary

The Supreme Court held that the assessee is not entitled to claim interest on the refund as the case falls under the Income-tax Act, 1961. The appeal was dismissed with no order as to costs.