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PCIT v. Solan District Truck Operators Transport Co-Op. Society (2020) 428 ITR 33 (HP) (HC)

S. 244A : Refund – Interest on refunds -Delay in paying refund — Interest payable for such delay .

Dismissing the appeal of the revenue the Court held that ;interest on delayed refund becomes part of the principal and the delayed interest includes the interest for not refunding the principal. Accordingly, it also includes the interest on the delayed refund. Followed  CIT v. HEG LTD. [2010] 324 ITR 331 (SC) ( AY.1999-2000)