Additional interest u/s. 244A(1A) for delay in granting refund is effective from 01.06.2016: ITAT Ahmedabad

Jethiben K. Patel Discretionary Trust Vs DCIT (ITAT Ahmedabad) ITAT Ahmedabad held that additional interest under section 244A(1A) is applicable where there is a delay in granting the refund due to the assessee. Provisions of addition interest are effective prospectively from 01.06.2016. Facts- The assessee is a discretionary trust engaged in various activities, and the issue under consideration is for the A.Y. 1992-93. The primary issue in this appeal concerns the grant of interest u/s. 244A of the Act, particularly regarding the additional interest claimed by the assessee for the delayed ref...