INTERPRETATION OF SEC 244A(3)

Can additional 3% interest be awarded on IT Refund U/s 244A(1A) Rw 244A(3) abstracted as under– Sec 244A(3) —Where, as a result of an order under section 155 —– the amount on which interest was payable under sub-section (1) has been increased —— the interest shall be increased —– and the provisions of this Act shall apply accordingly.*** *** Which includes above referred sec 244(1A) also*** Kindly enlighten me in this regard Thanks

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  Intrest u/s 244A and 234D for refund already granted under VSVS

Facts Demand raised against the assessee after assessment u/s 143(3) First appeal preferred and order in favour of assessee. Amount refunded by department as no addition sustained for refund as well as demand paid along with interest u/s 244A. appeal preferred by the department against order of CIT appeal before Honourable ITAT Meanwhile assessee settled the dispute under VSVS by paying 50% Now revised form 3 received seeking to recover 244A interest already granted to assessee on earlier interest paid and also seeking to collect 234D interest @ 0.5% from date of refund to date of payment under VSVS. Question…

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