The assessment of the aassessee resulted in to reduction of taxable income after setting -off brought forward losses .  The assessee was entitle to refund of sum deposited as interest u/s 234D and section 220(2) of the Act . The AO has not granted the refund . On appeal the CIT(A ) affirmed the order of AO. Tribunal allowed the appeal of the  aassessee. On appeal by the Revenue the Court held that if the sum is refundable to the assessee on  recomputation  of its taxable income , the assessee is eligible for interest . Referred  UOI v. Tata Chemicals Ltd  ( 2014) 4 SCC 335     ( ITA No. 1447 / 2018 dt 4-8 2022 )