LatestIncome Tax 1 October 2026
Senior Citizen Wins Rs 9.91 Lakh Tax Refund
An elderly investor who put Rs 3 crore into tax‑free bonds mistakenly paid tax on Rs 25.42 lakh of interest. The Delhi tax tribunal ruled in his favor, ordering a refund of Rs 9.91 lakh, citing a misinterpretation of tax‑exempt provisions. Chartered Accountant Ashish Niraj highlighted the case as a reminder for investors to verify tax liabilities on bond earnings.
An elderly investor placed Rs 3 crore in tax‑free bonds but was charged tax on Rs 25.42 lakh of interest. The Delhi tax tribunal found the tax demand incorrect and ordered a Rs 9.91 lakh refund.
- Investment: Rs 3 crore in tax‑free bonds
- Error: Tax paid on Rs 25.42 lakh interest earnings
- Outcome: Refund of Rs 9.91 lakh ordered by Delhi tribunal
- Expert note: CA Ashish Niraj says the case underscores the need to double‑check tax treatment of bond interest
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