Dismissing the appeal of the revenue the Court held that; when there was no reason attributable to assessee which delayed its refund claim, interest on refund was payable from beginning of relevant assessment year. (AY. 2001-02) (ITA No . 1218 of 2016 dt. 4-1-2019 )
PCIT v. State Bank Of India (2019) 261 Taxman 409/ 174 DTR 277/ 306 CTR 616 (Bom.)(HC)
S. 244A : Refund–Interest on refunds–There was no reason attributable to assessee which delayed its refund claim-Interest on refund was payable from beginning of relevant assessment year.