201. Interest payable on the amount of a refund in certain circumstances

Where for any year of assessment any person is entitled to a refund of the amount of any income tax, paid by him by deduction or otherwise, and where such amount has not been refunded to him by the Commissioner-General—

if such refund arises in consequence of the reduction of the amount of an assessment on agreement with an Assessor under subsection (7) of section 165 or on the determination of an appeal in respect of such assessment, within a period of six months from the date of such agreement or from the date on which such determination was communicated to such person ; or

in any other case, within a period of six months from the date on which a claim in writing was made by such person to the Commissioner-General for such refund, or from the thirty-first-day of March of that year of assessment, whichever is the later date, such person shall be entitled to interest on the amount of the refund which remains unpaid, calculated at the rate of one per centum for each complete period of one month for which such amount remains unpaid after the period of six months referred to in paragraph (a) or (b).