Allowing the appeal the Tribunal directed the Assessing Officer to first adjust the refund granted against the interest component and then adjust the balance amount against the principal /tax component and any short fall thereafter shall be considered for computation of interest payable to the assessee under section 244A till the date of grant or crediting of refund. (AY. 2020-21)
Deposit Insurance and Credit Guarantee Corporation v. Dy.CIT (2024) 116 ITR 34 (SN) (Mum)(Trib)
S. 244A : Refunds-Interest on refunds-Interest to be granted till date of grant or credit of refund.
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