Unjustified Adjustment Attempts Cannot Deny Interest on Refund

Shree Renuka Sugars Limited Vs ACIT (Karnataka High Court) Delay Has a Cost: Karnataka HC Orders Interest on Interest for 35-Month Refund Delay under Vivad Se Vishwas The Karnataka High Court (Dharwad Bench) held that an assessee is entitled not only to interest on a delayed tax refund but also interest on such interest, where the refund determined under the Direct Tax Vivad Se Vishwas Act, 2020 was released after an inordinate delay. In this case, the refund of ₹2.60 crore was determined in Form 5 dated 24.02.2021, but was actually credited only on 10.01.2024, resulting in a delay of nearly...