ITAT explains section 244A provisions – Interest on Income Tax Refund

Maruti Suzuki India Ltd Vs CIT (Appeals) (ITAT Delhi) The Honorable Delhi ITAT recently adjudicated an appeal filed in the case of Maruti Suzuki India Ltd vs Commissioner of Income Tax (Appeals)-IX (ITA No. 2553, 2641/Del/2013) wherein the case before the Tribunal was related to the provisions of section 244A of the Income Tax Act. Post discussing all the facts and giving due regard to the decisions of the Hon’ble Supreme Court and Hon’ble High Courts, the Delhi Bench of the ITAT summarized its decision as below: Where refund becomes due to the assessee on account of giving effec...