Claim of interest on refund of "penalty amount and interest paid ...

High Court Rules Refund Includes Interest Paid on Deleted Penalty; Additional Interest Due u/s 244(1A.

June 24, 2023

Case Laws Income Tax HC

Claim of interest on refund of "penalty amount and interest paid thereon" - Petitioner had paid interest on outstanding amount of penalty. On deletion of penalty, Petitioner became entitled to refund of amount of penalty paid by Petitioner as well as the interest thereon paid under Section 220(2) of the Act. The amount of interest paid by Petitioner under Section 220(2) of the Act, in our view, thus became part of refund envisaged under Section 240 of the Act. Therefore, Petitioner is entitled to interest on the said amount under the provisions of Section 244(1A). - HC

View Source

← Previous Next →

Claim of interest on refund of "penalty amount and interest paid ...

High Court Rules Refund Includes Interest Paid on Deleted Penalty; Additional Interest Due u/s 244(1A.

June 24, 2023

Case Laws Income Tax HC

You may also like:

Interest in terms of Section 244A - When an order of refund is issued, the same should include interest payable on the amount, which is refunded. If the refund does not...

Interest u/s 244A on delayed refund - the interest on the delayed refund becomes part of the principle amount and the delayed interest includes the interest for not...

Interest on refund due to error on the part of officer - As the amount of interest is being paid out of public exchequer, the Chief Principal Commissioner in-charge of...

When calculating interest u/s 244A(1), if a refund is granted earlier, it should be adjusted against the interest component first, and the remaining amount, if any,...

Refund of Additional Duty of Customs (CVD) demanded from respondent after GST introduction on imported goods - refund of duty paid on re-import - time limitation....

The court held that the assessee was entitled to refund of Rs. 3,50,00,000/- deposited with the department, along with statutory interest and interest on refunds. The...

Non-payment of interest on refund u/s 18(4) of the Customs Act 1962 upon finalization of provisional assessment was challenged. Upon completion of the specified import...

Interest on refund - the wording of Section 42(1) of DVAT Act is unambiguous which talks of the two dates i.e. date the refund was due to be paid to the person and...

Interest on Delayed Refund of Input Tax Credit - Proviso to Section 56 specified increased interest rates for refunds arising from orders of adjudicating or appellate...

Refund claim towards excess custom duty paid - same amount paid twice through oversight and bonafide mistake - The petitioner is entitled to get refund along with...

Interest Liability u/s 234B - settlement of case u/s 245D(4) - Levy of interest on tax on additional income offered without providing the set off of the prepaid taxes...

Amendment of section 244A. - additional interest on refund - where a refund arising out of appeal effect is delayed beyond the time prescribed under subsection (5) of...

Computation of refund and interest thereon under section 244A - The present case is not a case where interest on interest due was claimed by the assessee. The issue...

The appellants challenged the order of the Commissioner (Appeals) denying eligible interest on the refunded amount. The court held that interest accrued on the deposited...

Recovery of erroneous Refund of interest on delayed payment of differential duty - price variation clause - Rejection on the ground that since the appellant was liable...

Quick Updates: