Section 244A read with Explanation thereto does not exclude payment of interest on refund of self assessment tax
· Where the self-assessment tax paid by the assessee under section 140A is refunded, the assessee should, on principle, be entitled to interest thereon since the self-assessment tax falls within the expression ‘refund of any amount’
· The computation of interest on self-assessment tax has to be in terms of section 244A(1)(b), i.e., from the date of payment of such amount up to the date on which refund is actually granted.
HIGH COURT OF NEW DELHI
CIT
v.
Sutlej Industries Ltd.
ITA No. 1204/2005
March 15, 2010
