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Interest under Income Tax- Calendar Month or 30 Day Month?
Case Law Details
- Case Name
- CIT Vs Arvind Mills Limited (Gujarat High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Gujarat High Court
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Alternate Citation- [2011] 16 taxmann.com 291 (Guj.)
Issue Before the Court- Whether in facts and in circumstances of the case the Appellate Tribunal was right in law in reversing the orders passed by the CIT (Appeals) and thereby holding that the assessee was entitled to interest under Section 244A of the Act for both the months when the tax was paid and when the tax refundable was adjusted irrespective of the period between such events?”
Facts of the Case
The respondent assessee had lodged its claim of interest under Section 244A of the Income Tax Act, 1961 (‘the Act...
