Section 115 - Interest on refund of amount paid for admission of appeal
Section 115 - Interest on Refund for Appeal Payments
If someone has paid an amount to have their appeal considered, as required under specific sections (107(6) or 112(8)), and later it's decided that this amount should be refunded due to a decision by the Appellate Authority or Tribunal, then the person is entitled to receive interest on that refunded amount. This interest is calculated from the day they originally paid the amount until the day they receive the refund. The rate of interest applied is the same as that specified in another section (Section 56) of the law.
Note: It is an AI generated summary for reference purpose only.
115. Interest on refund of amount paid for admission of appeal
Where an amount paid by the appellant under sub-section (6) of section 107 or sub-section (8) of section 112 is required to be refunded consequent to any order of the Appellate Authority or of the Appellate Tribunal, interest at the rate specified under section 56 shall be payable in respect of such refund from the date of payment of the amount till the date of refund of such amount.
