SC reduces interest rate on income tax refund to 6%

ACIT Vs TSI Business Parks (Hyderabad) Pvt. Ltd. (Supreme Court of India)

Supreme Court of India has partly allowed the appeal filed by the Assistant Commissioner of Income Tax (ACIT) against TSI Business Parks (Hyderabad) Pvt. Ltd., modifying the interest rate awarded by the Telangana High Court on the refund of ₹1,06,06,740 and ₹6,25,70,390. The High Court had directed the Income Tax Department to pay interest at a rate of 15% per annum from the date of adjustment until the date of payment.

The primary contention o

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