2017 (11) TMI 590

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..... so entitled to interest on refund of excess deduction or erroneous deduction of tax at source u/s195 of the Act – Held that:- It is clear that the appeal of the department deserves to be dismissed as the matter is covered by the judgment of this Court in Union of India Through Director of Income Tax Vs. Tata Chemicals Limited [2014 (3) TMI 610 - SUPREME COURT] wherein held Interest on refund is a .....

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..... tained and used it, is bound to make the party good, just as an individual would be under like circumstances - The obligation to refund money received and retained without right implies and carries with it the right to interest. The interest is payable from the date of payment of tax - the resident/deductor is entitled not only the refund of tax deposited under Section 195(2) of the Act, but h .....

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