Amendment status not verified — confirm the current text below against the official source.
If any tax ordered to be refunded under sub—section (5) of section 54 to any applicant is not refunded within sixty‘days from the date ofreceipt ofapplication under sub-section (1) of that section, interest at such rate not exceeding six per cent. as may be specified in the notification issued by the Government on the recommendations of the Council shall be payable in ' respect of such refund from the date immediately after the expiry of sixty days from the date of receipt of application under the said sub-section till the date ofrefund ofsuch tax: Provided that where any claim of refund arises frOm an order passed by an adjudicafing authority or Appellate Authority or Appellate Tribunal or Court which has attained finality and the same is not refunded within sixty days from the date of receipt of application filed consequent to such order, interest at such rate not exceeding nine per cent. as may be notified on therecommendations 'of the Council shall be payable in respect of such refund from the date immediately after the expiry of sixty days from the date of receipt ofapplication till the date ofrefund Explanation:~ For the purposes of this section, where any order of refund is made by anAppellate Authority, Appellate Tribunal or any court against an order of the proper oflicer under sub-section (5) of section 54, the order passed by the Appellate Authority, Appellate , Tribunal orby the court shall be deemed to be an order passed under the said sub~section (S). '