Held that in computing the interest payable to the assessee on refund under section 244A the Assessing Officer had to grant interest on the amounts paid pursuant to the demands raised, and the advance tax, tax deducted at source and self-assessment tax. It is a cardinal principle of interpretation that the words in a statute must be given their natural and ordinary meaning (AY.1989-90)
CEAT Ltd. v CIT (2024)465 ITR 276 /159 taxmann.com 535/ 340 CTR 169 (Bom)(HC)
S. 244A : Refunds-Interest on refunds-Amounts paid as advance tax and tax deducted at source must be included-Interpretation of taxing statutes-Words must be given their natural meaning.[S. 143(1), 244A(1)(a)]