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of <h1>Tribunal Upholds Interest Grant Decision for 1990-91 Assessment Year</h1> <h3>Tata Communications Ltd. Videsh Sanchar Bhavan, Mumbai Versus The DCIT 1 (3), Aaykar Bhavan, Mumbai</h3> Tata Communications Ltd. Videsh Sanchar Bhavan, Mumbai Versus The DCIT 1 (3), Aaykar Bhavan, Mumbai - TMI Issues involved:- Short grant of interest u/s. 244AAnalysis:The appeal was filed against an order passed by the Ld. CIT(A-20 Mumbai for the assessment year 1990-91 regarding the short grant of interest under section 244A. The appellant contended that the interest was not correctly computed by the Assessing Officer (AO) and referred to a previous Tribunal order in a group case. The Revenue argued that the direction of the Ld. CIT(A) to deduct only the tax element from the refund excluding the interest portion was contrary to law. The Tribunal dismissed the ground, stating that the assessee is entitled to interest on the refund as per section 244A(1) and that the Ld. CIT(A) did not give any direction contrary to the law. The Tribunal upheld the order of the Ld. CIT(A) in this regard.Regarding the calculation of interest for the assessment year 1990-91, the appellant submitted that the AO calculated the tax incorrectly, contrary to a previous Tribunal decision in the same group case. The appellant provided a detailed calculation of the interest in accordance with the Tribunal's position. The Tribunal, after considering the submissions, directed the AO to recalculate the interest in line with the previous Tribunal decision. The appellant's ground was considered allowed for statistical purposes, and the order was pronounced accordingly on 22/10/2014.
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