Income Tax Refund Interest payable up to actual date of refund issuance: ITAT Delhi

FAB India Limited Vs DCIT (ITAT Delhi) The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) allowed the appeal filed by the assessee concerning the grant of interest on income-tax refund under Section 244A of the Income-tax Act, 1961. The dispute arose from the processing of the assessee’s return for Assessment Year 2021-22 under Section 143(1) by the Centralized Processing Centre (CPC), Bangalore. The assessee had filed its return on 12 March 2022 declaring nil income. During processing, the CPC made adjustments under Section 143(1)(a)(iv) relating to expenditure indicated in the...