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Interest on Income Tax refund should be spread over the years for which interest is granted
Case Law Details
- Case Name
- Shri M. Jaffer Saheb (Decd.) Vs Commissioner of Income-Tax (Andhra Pradesh High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Andhra Pradesh HC
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The Andhra Pradesh HC has held in the case Shri M. Jaffer Saheb (Decd.) Vs. CIT that interest granted under Section 244A of the Act on income tax refund is chargeable to tax on accrual basis and has to be spread over the respective years for which interest is being granted. Accordingly, the entire interest on income tax refund cannot be taxed in the year in which order of the ITAT is passed.
High Court of Andhra Pradesh
Shri M. Jaffer Saheb (Decd.)
Versus
Commissioner of Income-Tax
R.C. No.127 OF 1997
Date – 19th December, 2013
ORDER:- (per Hon’ble Sri Justice Challa Kodanda Ram)...
