With a view to reduce the pendency of appeals in the Tribunal, High Court and Supreme Court and also to redress difficulties of small assessees in meeting cost of litigation, CBDT has been issuing various instructions to revenue officials prescribing the monetary limit for filing appeals before the above forums. Impugned Instruction No. 1979 dated...
Section 172: Interest u/s 244A Allowable on Refund
August 31, 2012 by Leave a Comment
The assessees were non-resident shippers in whose case , the amound become refundable due to assessment under normal provision as per the option u/s 172(7) of teh Income tax Act. After refunds the assessees claimed interest on excess amounts . This was turned down by the revenue on the ground that assessment under section 172(4) [...]
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