Vivad Se Vishwas Refunds Entitled to Interest Under Section 244A: Gujarat HC

Samarpan Foundation Vs CIT (Exemption) (Gujarat High Court) Gujarat High Court has ruled that refunds issued under the Direct Tax Vivad Se Vishwas Act, 2020 (DTVSVA), are entitled to interest under Section 244A of the Income Tax Act, 1961, for delayed payments. This decision was made in the case of Samarpan Foundation vs. CIT (Exemption), where the petitioner, a trust, sought interest on a delayed refund amounting to Rs. 4,39,010/- on a total refund of Rs. 36,51,389/-. The issue arose when Samarpan Foundation, a trust that had filed a ‘NIL’ income tax return for the Assessment Year...