{"id":23031,"date":"2021-12-18T11:48:07","date_gmt":"2021-12-18T06:18:07","guid":{"rendered":"https:\/\/itatonline.org\/digest\/?post_type=qa&p=23031"},"modified":"2021-12-19T06:55:28","modified_gmt":"2021-12-19T01:25:28","slug":"intrest-u-s-244a-and-234d-for-refund-already-granted-under-vsvs","status":"publish","type":"qa","link":"https:\/\/itatonline.org\/digest\/qa\/intrest-u-s-244a-and-234d-for-refund-already-granted-under-vsvs\/","title":{"rendered":"Intrest u\/s 244A and 234D for refund already granted under VSVS"},"content":{"rendered":"

Facts<\/p>\n

    \n
  1. Demand raised against the assessee after assessment u\/s 143(3)<\/li>\n
  2. First appeal preferred and order in favour of assessee.<\/li>\n
  3. Amount refunded by department as no addition sustained for refund as well as demand paid along with interest u\/s 244A.<\/li>\n
  4. appeal preferred by the department against order of CIT appeal before Honourable ITAT<\/li>\n
  5. Meanwhile assessee settled the dispute under VSVS by paying 50%<\/li>\n
  6. 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.<\/li>\n<\/ol>\n

    Question<\/p>\n

      \n
    1. Whether department can recover 244A already granted and can also collect 234D on refund.<\/li>\n
    2. I am aware of Bombay High Court judgement on similar issue in case of Cooperative Robobank U A. However the judgement leaves open 234D and 244(3).<\/li>\n<\/ol>\n","protected":false},"comment_status":"open","ping_status":"closed","template":"","qa_expert":[139],"qa_category":[23],"qa_tag":[462,89,144,461],"class_list":["post-23031","qa","type-qa","status-publish","hentry","qa_expert-research-team","qa_category-income-tax","qa_tag-244a","qa_tag-dtvsv-act-2020","qa_tag-interest","qa_tag-s-234d"],"acf":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa\/23031","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/qa"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=23031"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=23031"}],"wp:term":[{"taxonomy":"qa_expert","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_expert?post=23031"},{"taxonomy":"qa_category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_category?post=23031"},{"taxonomy":"qa_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_tag?post=23031"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}