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Interest admissible on refund arising from Direct Tax Vivad Se Vishwas Scheme
Case Law Details
- Case Name
- LIC Housing Finance Ltd. Vs ACIT (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2005-06
- Courts
- All ITAT, ITAT Mumbai
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LIC Housing Finance Ltd. Vs ACIT (ITAT Mumbai)
ITAT Mumbai held that right to interest on refund is statutory right hence interest on delayed refunds arising from Direct Tax Vivad Se Vishwas [DTVSV] Act, 2020 is admissible. Accordingly, the appeals are allowed.
Facts- In this case of a Public Sector undertaking of Government of India, the assessee filed VSVS application as per under Direct Tax Vivad Se Vishwas Act, 2o2o(DTVSV). Pr.CIT while accepting the application passed order determining refund of Rs 11.16 cr. Order Giving Effect(OGE) u/s 5(2) of DTVSV was passed on 18.08....
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