Interest on delayed Income Tax Refunds arising from excess Self-Assessment Tax allowable

Indian Oil Corporation Ltd. Vs DCIT (ITAT Mumbai) Conclusion: Assessee was entitled to interest on refund arising out of excess self-assessment tax from the date of payment of self-assessment tax till the date of grant of refund Held: AO finalized assessment with a demand of Rs. 619,42,03,502/- after consideration of the refund already issued to the assessee at the time of processing. Assessee made a part payment of Rs. 61,18,00,000/-  against the demand and also filed an appeal against the assessment order before CIT(A). CIT(A) gave partial relief to the assessee. After giving effect to orde...