Thursday 28 November 2013

Interest on refund attributable to advance tax upheld as revenue failed to prove its relationship wi

IT: Where Assessing Officer allowed credit for MAT without payment of interest on quantum of tax refunded, in view of fact that what assessee was claiming was not interest on MAT paid for preceding assessment year but interest on refund to extent it was attributable to advance tax and TDS, assessee's claim for interest was to be allowed


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