Tax Titbits

Abstract

Assessees right not only to right to interest, but also right to interest on interest, where there is a delay in payment of interest on refund under section 244A was recognised by the Supreme Court in Sandvik Asia Ltd. v. CIT [2006] 280 ITR 643 (SC). This decision came up for review before the Supreme Court at the instance of revenue in a group of cases in CIT v. Gujarat Fluoro Chemicals [2013] 358 ITR 291 (SC).