The Settlement Commission passed the final order u/s 245D(4) in March 2008. The total amount of refunds determined by the ITSC which was granted to the assessee after a delay of 98 months, the assessee is eligible to receive interest under section 244A of the Act. (AY. 1994-95 to 1997-98)
Kotak Mahindra Bank Ltd. v. ACIT (2021) 214 TTJ 738 / 208 DTR 363 / (2022) 193 ITD 34 (Mum.)(Trib.)
S. 244A : Refund-Interest on refunds-Settlement commission-Total amount refunds determined by the ITSC which has been granted after delay of 98 months-Eligible to receive the interest. [S. 240, 245D(4)]