Refund Interest Denial Over Defective TDS Held Perverse: J&K HC Remands Case

J & K Bank Limited Vs JCIT (Jammu And Kashmir High Court) The Jammu and Kashmir High Court adjudicated an appeal filed by J&K Bank Limited under Section 260-A of the Income Tax Act, 1961, against an order dated 10 July 2009 passed by the Income Tax Appellate Tribunal (ITAT), Amritsar, in relation to assessment year 1993–94. The appeal arose from the ITAT’s affirmation of the Commissioner of Income Tax (Appeals) [CIT(A)], Bathinda’s order dated 24 February 2009, which had rejected the Bank’s claim regarding entitlement to interest on refund for a certain period, based on alleged...