If Refund doesn’t include Interest due payable on the amount refunded, the revenue would be liable to pay Interest on shortfall: Karnataka HC grants relief to Syndicate Bank

The Karnataka High Court while dismissing the plea of the revenue held that the revenue is liable to pay interest on the amount of interest on refund. The assessee, Syndicate Bank is a Nationalized Commercial Bank. The assessee filed return of income for Assessment Year 1984-85 declaring a total loss of Rs.2.29 Crores. The assessee […]

from Taxscan | Simplifying Tax Laws https://ift.tt/33VWC1r