Interest on delayed refunds

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..... hich the total income is determined under this Act, and ( b ) in any other case, within three months from the end of the month in which the claim for refund is made under this Chapter, the Central Government shall pay the assessee simple interest at 3 [fifteen] per cent per annum on the amount directed to be refunded from the date immediately following the expiry of the period of three mo .....

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..... April, 1989 or any subsequent assessment years.] ------------------- Notes :- 1. Substituted for sub-section (1) by the Taxation Laws (Amendment) Act, 1970, w.e.f. 1-4-1971. 2. Substituted for Income-tax by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1988. 3. Substituted for twelve by the Taxation Laws (Amendment) Act, 1984, w.e.f. 1-10-1984. E .....

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