Assessee filed its return claiming refund of certain amount.Refund was granted and certain interest was also granted to assessee.  Subsequently, a co-ordinate Bench of Tribunal passed an order giving relief to assessee.  Assessing Officer passed an order giving effect to said Tribunal’s order and granted certain refund to assessee.  However, Assessing Officer did not grant interest on refund. CIT(A) affirmed the order of the Assessing Officer. On appeal the Tribunal held that  the  Assessing Officer had reduced interest only to extent it was determined at point of issuance of earlier refunds, thus, leading to larger adjustment of refund towards tax component as against interest component. Therefore, manner in which Assessing Officer had adjusted refund was not correct and assessee would be entitled for interest on unpaid refunds.  Assessing Officer is  directed to compute correct amount of interest allowable to assessee by first adjusting amount of refund already granted towards interest component and balance left, if any, towards tax component. Held that provision of sub-section (1A) to section 244A is inserted by Finance Act, 2016 as a remedial measure to compensate assessee in cases where there are delays in granting refunds due on account of delay in passing order giving effect to appellate or revisional orders. Therefore, provisions of section 244A(1A) would be applicable from 1-6-2016 till date of actual receipt of refund. (AY. 1993-94)