Dismissing the appeal of the revenue the High Court held that the assessee is entitled to interest on excess self-assessment tax from date of payment till refund.Followed PCIT v Bank of India (ITA No. 742 of 2016 dt. 10-12 2018.
PCIT v Bank of India (2019) 112 Taxmann.com 327 / (2020) 268 Taxman 318 (Bom.)(HC) Editorial : SLP is granted to the revenue PCIT v Bank of India (2020) 268 Taxman 318 (SC)
S. 244A : Refunds – Interest on refunds–Entitle to interest on excess self assessment tax from date of payments till refund. [S.14OA, 244(1)(b)]