Court held that provision of S. 234D is applicable for the assessment year 2003-04, if regular assessment of assessee was made after amendment of provision of S.234D with effect from 1-06 -2003 on excess refund granted u/s 143(1) of the Act even though the assessment period may be prior to said date of amendment. (AY.2003-04)
CIT v. TVS Electronics Ltd. (2019) 419 ITR 187263 Taxman 164 (Mad.)(HC)
S. 234D : Interest on excess refund–Regular assessment was made after amendment of provision with effect from 1-06-2003– Excess refund granted u/s. 143(1)-Applicable even though assessment period may be prior to said date of amendment.[S. 143(1)]