Section 234D of Income Tax Act Applicable from 01.06.2003 but it is not retrospective

Brief : In answer to the question raised by the department as whether interest u/s 234D can be charged in respect of refunds granted prior to 1.6.2003 it was held that as s. 234D came on the statute w.e.f. 1.6.2003, it did not have retrospective effect. Citation : The Commissioner of Income Tax V/s. M/s. Bajaj Hindustan Ltd. INCOME TAX APPEAL NO. 198 OF 2009, DATED : 15TH APRIL, 2009 Court : Bombay High Court Order 1. Heard learned counsel for the revenue and the respondent. Appeal seeks to raise the following questions of law:- A) Whether in the facts and circumstances of the...